Spain's harmonised inflation rose to 5% in September, the highest rate among major eurozone economies. The eurozone average stood at 3.8%.
According to moncloa.com, the harmonised inflation of Spain climbed to 5% in September, the highest rate among major eurozone economies. The eurozone average was 3.8%, its highest in three years.
The data comes from Eurostat, the statistical office of the European Union. The Spanish index rose from 4.6% in August to 5% in September, while the difference with the euro area narrowed to 1.2 points.
By country, France recorded 3.4%, Germany 3.3%, and Italy 4.2%. Only Romania (6.5%), Lithuania (6.1%), and Bulgaria (5.6%) surpassed Spain in the European comparison.
Energy was the component that pushed prices up the most, with a year-on-year increase of 18.9%, compared to 14.3% in August. Fresh food prices rose by 4% and services by 3.2%.
Without the impact of energy, the overall inflation in the euro area drops to 2.3%. If fresh food, alcohol, and tobacco are also excluded, the core inflation remains at 2.5%.
The European Central Bank monitors these data to decide whether to raise, maintain, or lower interest rates. The next steps are the new readings from Eurostat and ECB meetings, where it will be seen if energy prices moderate and the Spanish differential narrows.
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