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Spain 12-month EU-harmonised inflation falls to 1.7% in September
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(Reuters) – Spain’s European Union-harmonised 12-month inflation fell to 1.7% in September, down from 2.4% in the period through August, final data released by the National Statistics Institute (INE) showed on Tuesday.
The 12-month inflation rate was the same as the flash estimate reported by INE two weeks ago and the average expectation by analysts polled by Reuters.
Core inflation, which strips out volatile fresh food and energy prices, was 2.4% in the 12 months through September, down from 2.7% a month earlier, INE said.
Spanish national consumer prices fell to 1.5% in the 12 months through September, from 2.3% in the period through August.
The final reading was in line with the flash estimate released by INE two weeks ago. Analysts polled by Reuters also expected a 1.5% rate.
(Reporting by Joao Manuel Mauricio in Gdansk, editing by Inti Landauro)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured as an annual percentage increase.
Core inflation measures the long-term trend in prices by excluding volatile items such as food and energy. It provides a clearer view of underlying inflation trends.
Consumer prices refer to the prices paid by households for goods and services. These prices are used to calculate inflation and reflect the cost of living.
The National Statistics Institute (INE) is the official statistical agency of Spain, responsible for collecting, analyzing, and disseminating statistical information about the country's economy and society.
A flash estimate is a preliminary inflation report that provides an early indication of inflation trends before the final data is released. It helps analysts and policymakers gauge economic conditions.
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