# Spain September final 12-month inflation revised down to 8.9%
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-10-14
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Spanish Inflation Rate Eases to 8.9% in September
Meta Description: Latest data shows Spanish inflation easing to its slowest rate since May 2022 despite high electricity and food prices.
URL: https://financedigest.com/spain-september-final-12-month-inflation-revised-down-to-8-9html

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MADRID (Reuters) – Spanish consumer prices rose 8.9% year-on-year in September, down from 10.5% in the period through August and slightly below the flash estimate of 9.0% released two weeks ago, final data released by the National Statistics Institute showed on Friday.

Spain’s 12-month inflation in September was its slowest rate since May 2022. Analysts polled by Reuters saw the 12-month inflation to September running at 9.0%.

Although inflation has softened from a peak in July, it remained high due mainly to a massive electricity price [increase](https://www.financedigest.com/coca-cola-hbcs-annual-profit-beats-warns-of-price-increases.html "Coca-Cola HBC’s annual profit beats, warns of price increases") and soaring food and non-alcoholic beverage prices which grew 14.4% in September, the fastest pace since January 1994, INE said.

[Core inflation](https://www.financedigest.com/boes-mann-falling-headline-inflation-high-core-make-policy-difficult.html "BoE’s Mann: Falling headline inflation, high core, make policy difficult"), which strips out volatile food and energy prices, fell to 6.2% year-on-year in September, from 6.4% registered in August.

Spanish [Finance Minister](https://www.financedigest.com/scottish-finance-minister-kate-forbes-to-run-for-countrys-leadership.html "Scottish finance minister Kate Forbes to run for country’s leadership") Nadia Calvino welcomed the news on Friday and said the downward trend was accelerating and she hoped it would continue.

The [Bank of Spain this month projected annual EU-harmonised inflation](https://www.financedigest.com/bank-of-england-still-needs-to-see-the-job-through-on-inflation-pill.html "Bank of England still needs to ‘see the job through’ on inflation: Pill") to end 2022 at 8.7%, up from a previous expectation of 7.2%. It [expects a still hefty inflation](https://www.financedigest.com/dollar-drops-as-inflation-cools-more-than-expected.html "Dollar drops as inflation cools more than expected") rate of 5.6% in 2023 before it falls to 1.9% by 2024.

INE revised the 12-month European Union-harmonised [price increase](https://www.financedigest.com/taylor-wimpey-espana-remain-cautiously-optimistic-as-average-selling-price-increases-by-20-4.html "Taylor Wimpey España ‘remain cautiously optimistic’ as average selling price increases by 20.4%") to 9.0%, down from a previous estimate of 9.3%.

(Reporting by Joao Manuel Mauricio in Gdansk, editing by Inti Landauro and Emelia Sithole-Matarise)


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