Spain Inflation Accelerates As Estimated In September

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(RTTNews) – Spain consumer price inflation accelerated as initially estimated in September, final data from the statistical office INE showed on Thursday.

Consumer price index rose 4.0 percent year-on-year following a 3.3 percent increase in August. The rate came in line with the preliminary estimate published on September 29.

The latest annual inflation rate was the highest since September 2008.

Similarly, inflation based on the EU measure, the HICP, accelerated to 4.0 percent from 3.3 percent in the previous month. The rate came in line with the flash estimate.

Higher inflation was driven by electricity prices and transportation cost.

Core inflation, which excludes fresh food and energy, rose to 1.0 percent from 0.7 percent in the previous month.

Compared to the previous month, the CPI rose 0.8 percent in September after a 0.5 percent gain in August.

On a month-on-month basis, the HICP rose 1.1 percent in September after climbing 0.4 percent in August. The monthly variation in both CPI and HICP were confirmed.