New figures have revealed that inflation in Spain slowed during September to nine per cent. This follows August’s inflation rate of 10.5 per cent and inflation increases for four successive months. Statistics released by the INE at the end of September were confirmed earlier this week.
The September figure is the lowest inflation rate since May this year, inflation in the country had reached double-digit figures not seen since the 1980s in June. The fall in inflation is being attributed to falls in electricity, gas and transport prices, some of it due to government subsidies.
Core inflation also fell slightly to 6.4 per cent, a decrease of 0.2 per cent, notable due to previous 14 month consecutive increases in the indicator, since June 2021.
Measures introduced by the government to combat rising inflation rates include popular free public transport schemes, gas sales tax reductions, and subsidised petrol prices. The measures aim to reduce the effects of the cost of living crisis on the population.
News of falling inflation rates comes as a relief for consumers, particularly as we head towards winter.
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