Wed, 07 Dec 2022

Inflation in Spain drops to 9 pct in September

Xinhua
30 Sep 2022, 05:44 GMT+10

MADRID, Sept. 29 (Xinhua) -- The inflation in Spain dropped to 9 percent in September from 10.5 percent in August, according to preliminary data published by the Spanish Statistical Office (INE) on Thursday.

In July, inflation reached a 38-year high of 10.8 percent.

The main reasons for the fall in inflation are a reduction in the price of electricity, and in fuel and transport costs. This follows the introduction of measures by the Spanish government at the start of the month to offer free transport on local trains, half-price fares on middle and long-distance trains, and on municipal transport.

The Spanish government pointed out that the "Iberian exception", which allows the Spanish and Portuguese governments to cap the price of electricity generated using natural gas, has had an important effect on cutting energy costs.

The level of core inflation (which doesn't include the more volatile costs of energy and fresh food) also dropped slightly, from 6.4 in August to 6.2 percent in September.

More Spain News

Access More

Sign up for Spain News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!