Spain September Inflation Jumps to 4.9%, Highest Since February 2023, on Fuel Costs

Spain's annual inflation rate rose to 4.9% in September, up six-tenths of a point from August, marking the highest level since February 2023, according to preliminary CPI data published September 29, 2026, by the National Statistics Institute (INE). Fuel and lubricant prices rebounded after falling a year earlier, while package holiday prices declined less than in the prior year. Energy products surged 21.6%, unprocessed food rose 5.8% and services gained 3.9%. Core inflation, excluding food and energy, edged up two-tenths to 3.1%. Consumer prices rose 0.3% month-over-month, the eighth consecutive positive monthly reading since January. The EU-harmonised HICP climbed four-tenths to 5.0% annually, with core HICP at 3.2%. INE will release final September data on October 14.