Inflation fell 0.6% in September compared to the previous month and reduced eight tenths its interannual rate, up to 1.5%, its lowest figure since March 2021, when it stood at 1.3%, according to data released this Friday by the National Institute of Statistics (INE).
In the INE data, the moderation of the CPI Up to 1.5% is due to lower fuel prices and, to a lesser extent, the lower cost of food and electricity, compared to the increase they experienced in September 2023. The leisure and culture group also influences, whose prices fell more intensely than a year before.
With the decrease in the interannual CPI in the ninth month of the year, inflation It has chained four consecutive months of declines after the increases experienced in March, April and May, which led the CPI to climb to 3.6%.
Core inflation
The INE incorporates in the CPI data preview an estimate of underlying inflation (without unprocessed food or energy products), which moderated in September three tenthsup to 2.4%, nine tenths above the general rate and its lowest rate since January 2022.
If monthly terms are taken into account (September over August), the CPI decreased by 0.6% compared to the previous month, in contrast to the stagnation registered in August and the monthly increase of 0.2% in September 2023.
Likewise, the INE will publish the final CPI data for September on October 15.
«The continued reduction in inflation continues to demonstrate the effectiveness of the measures of economic policy and the capacity of the Spanish economy to make compatible the highest economic growth among the main countries in the euro zone, four times higher than the euro zone average, with a moderation in prices,” highlighted the Ministry of Economy.
