Spain's consumer price inflation eased to its lowest level in three-and-a-half years in September, primarily due to a reduction in transportation costs, according to the latest report from the statistical office INE released on Tuesday.
In September, the consumer price inflation rate in Spain decreased to 1.5 percent, down from 2.3 percent in August, confirming the preliminary data issued on September 27. This marks the lowest inflation rate since March 2021, when prices increased by 1.3 percent.
The cost decline in transportation intensified, dropping 3.9 percent compared to the previous 2.6 percent fall in August, driven by a decrease in fuel and lubricant prices. Annual price increases for food and non-alcoholic beverages also slowed, declining to 1.8 percent from 2.5 percent.
Core inflation, which does not take into account unprocessed food and energy prices, eased to 2.4 percent from the preceding month's 2.7 percent, aligning with projections.
The inflation measured by the harmonized index of consumer prices (HICP) fell to 1.7 percent in September from 2.4 percent in August. On a monthly basis, consumer prices declined by 0.6 percent, while the HICP slightly dipped by 0.1 percent. These figures remain unchanged from the preliminary estimates.
