Inflation & Prices
Spain Inflation Jumps, Backing Higher-for-Longer ECB Rates
- Consumer prices rose 3.2% from year ago in Sept.; est. 3.3%
- Bank of Spain has boosted price outlook as cost of oil rises
Shoppers inside Sant Antoni market in Barcelona, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Spanish inflation accelerated for a second month, demonstrating the persistent price pressures that the European Central Bank’s higher-for-longer approach to interest rates is seeking to stamp out.
September’s reading of 3.2% was due to electricity and fuel costs, the national statistics institute said Thursday. That compares with 2.4% a month earlier is just shy of the 3.3% median estimate in a Bloomberg survey of economists.