Spanish Inflation Rate Confirmed at 4-Month High of 1.8%

Consumer prices in Spain increased 1.8 percent year-on-year in September of 2017, accelerating from 1.6 percent in the previous month and in line with the preliminary estimate. It is the highest inflation rate since May, mainly boosted by rising prices of food and transport.
INE | Luisa Carvalho | 10/11/2017 9:15:12 AM
Year-on-year, consumer prices advanced faster for food & non-alcoholic beverages (1.2 percent from a flat reading in August), namely fruits and vegetables and transport (3.4 percent vs 3.3 percent), particularly fuel. Additional upward pressure came from: recreation & culture (1.8 percent vs 0.7 percent); clothing & footwear (0.6 percent vs 0.5 percent) and health (0.8 percent vs 0.7 percent).

Meantime, cost rose at the same pace for hotels, cafes & restaurants (2.3 percent); alcoholic beverages & tobacco (1.7 percent) and communications (0.7 percent) while slowed for housing & utilities (2.9 percent vs 3.3 percent); miscellaneous goods & services (0.5 percent vs 0.6 percent) and education (0.8 percent vs 1 percent).

Annual core inflation, which strips out volatile food and energy prices, was 1.2 percent, remaining at the same level as in August.

On a monthly basis, consumer prices edged up 0.2 percent, the same pace as in the previous month.

The EU-harmonised index rose 1.8 percent compared to a year earlier in September, following a 2 percent increase in August and lower than a preliminary estimate of 1.9 percent. Compared to the previous month, the index went up 0.6 percent, higher than 0.2 percent in August and matching the preliminary estimate.

Spanish Inflation Rate Confirmed at 4-Month High of 1.8%