Spain's annual inflation rate forecast at 3.5% in September 2023

29 Sep '23

1 min read

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Insights

Spain's annual inflation is set to rise to 3.5 per cent in September 2023, a nine-tenth increase from August, according to preliminary NSI data.
Underlying inflation decreased slightly to 5.8 per cent.
Month-to-month consumer prices increased by 0.2 per cent in September.
The HCPI also increased to 3.2 per cent annually and 0.6 per cent monthly.

Spain's annual inflation rate is projected to be 3.5 per cent in September 2023, according to preliminary data from the National Statistics Institute (NSI). If these figures are confirmed, they would signify a rise of nine tenths from the previous month, when the annual rate stood at 2.6 per cent.

The flash indicator also highlighted changes in underlying inflation, which excludes non-processed food and energy products. This measure saw a decrease of three tenths, bringing it to 5.8 per cent.

On a month-to-month basis, consumer prices in September increased by 0.2 per cent compared to August, as per the leading indicator of the consumer price index (CPI), as per NSI.

Furthermore, the estimated annual variation rate for the harmonised index of consumer prices (HCPI) in September was 3.2 per cent, an increase of eight tenths from the rate in August. The estimated monthly variation of the HCPI was higher than the CPI, standing at 0.6 per cent.

Fibre2Fashion News Desk (DP)

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