Spain: Harmonized inflation declines to lowest level since June 2023 in September
Latest reading: Harmonized inflation came in at 1.7% in September, which was down from August’s 2.4%. September’s figure came in below the ECB’s 2.0% target and represented the lowest inflation rate since June 2023. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a slower pace in September while prices for transportation declined at a faster rate.
Annual average harmonized inflation edged down to 3.1% in September (August: 3.2%). Meanwhile, consumer price inflation fell to 1.5% in September from August’s 2.3%.
Finally, harmonized consumer prices fell 0.10% in September over the previous month, swinging from the 0.02% rise logged in August.