Spain’s Consumer Price Index falls to 9% due to lower electricity and petrol costs

Spain’s Consumer Price Index (CPI) in September has fallen to 9% due to lower electricity and petrol costs as reported by the INE on Thursday, September 29.

Spain’s Consumer Price Index for September is currently 9,0% due to lower electricity and petrol costs, one and a half points lower than that registered in August.

The annual rate of the leading indicator of core inflation decreased by two tenths of a percentage point to 6.2%.

The annual change in the HICP flash estimate is 9.3%.

This indicator provides an advance in the CPI which, if confirmed, would mean a decrease of one and a half points in its annual rate, since in the month of August this variation was 10.5%.

This evolution is mainly due to the fall in electricity prices, which rose in September 2021. The fall in fuel prices, compared with the rise in the previous year, and the fall in transport also played a role, albeit to a lesser extent.

The estimated annual rate of change of core inflation (the headline index excluding unprocessed food and energy products) also fell by two tenths of a percentage point to 6.2%.

The news follows reports that Spain’s annual rate of the general Consumer Price Index (CPI) for the month of July was 10.8 per cent, the same as that announced by the INE on July 29, as reported on Friday, August 12.

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram