Spain's price growth accelerates in September, with the EU-harmonised annual inflation rate reaching 5.0% after 4.6% in August. The final reading matches both the earlier flash estimate and the average forecast from analysts polled by Reuters.
Highlights
- Spain's EU-harmonised 12-month inflation rate rises to 5.0% in September from 4.6% in August, confirming the flash estimate.
- Core inflation in Spain increases to 3.1% in September year-over-year, up from 2.9% in August, indicating persistent underlying price pressure.
- Spain's national consumer price index advances 4.9% year-over-year in September, compared to a 4.3% rise in August and matching the initial INE estimate.
Final September reading confirms faster price growth
As reported by Reuters, citing the National Statistics Institute, Spain's European Union-harmonised 12-month inflation rate rises to 5.0% in September from 4.6% in the period through August.The final figure is in line with the 5.0% flash reading released two weeks ago. It also matches the average estimate from analysts polled by Reuters.
Core inflation, which excludes volatile fresh food and energy prices, rises to 3.1% in the 12 months through September from 2.9% in the period through August.
National consumer prices also move higher
Spain's national consumer price index rises by 4.9% in the 12 months through September, compared with a 4.3% increase in the period through August.That reading is also unchanged from the initial estimate published by the INE two weeks ago, indicating a broad confirmation of the September inflation trend across both the national and EU-harmonised measures.
In our earlier article on Europe’s latest oil and gas price rise, we examined how renewed energy-cost pressures are reviving inflation concerns heading into winter. We noted that large European listed companies appear better positioned than in 2022 due to shifts in index composition and improved supply-chain and inflation management, though a prolonged period of high energy prices could still feed through into weaker demand and higher borrowing costs.
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