Financial News: Spain Inflation Rises As Estimated In October

Spain Inflation Rises As Estimated In October

11/14/2024 - 03:33:00 (RTTNews)

(RTTNews) - Spain inflation increased accelerated in October after slowing to a 44-month low in September, final data from the statistical office INE showed on Thursday.

The consumer price index posted an annual growth of 1.8 percent after September's 1.5 percent increase.

The rate matched the preliminary estimate published on October 30. The 1.5 percent rate registered in September was the lowest since March 2021.

EU harmonized inflation also rose to 1.8 percent in October, as estimated, from 1.7 percent a month ago.

Month-on-month, the consumer price index gained 0.6 percent, offsetting a 0.6 percent fall in September. The harmonized index of consumer prices climbed 0.4 percent, reversing a 0.1 percent drop in the previous month. Both rates came in line with the estimate.

Underlying inflation that excludes prices of unprocessed food and energy rose slightly to 2.5 percent from 2.4 percent in the previous month.

The upward contribution to the annual CPI inflation came from housing and transport costs. Driven by the rise in electricity and gas prices, housing cost moved up 4.2 percent. At the same time, transport cost declined at a slower pace of 3.0 percent.

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