Inflation in Spain drops to 9% in Sep - Madrid News

Madrid, Sep 30 (IANS) Inflation in Spain dropped to 9 per cent in September from 10.5 per cent the previous month, according to preliminary data published by the Spanish Statistical Office (INE).

by Maria Thomas | Updated Sep 30, 2022

In July, inflation reached a 38-year high of 10.8 per cent, Xinhua news agency quoted the Office as saying on Thursday.

The main reasons for the fall in inflation are a reduction in the price of electricity, and in fuel and transport costs.

This follows the introduction of measures by the Spanish government at the start of the month to offer free transport on local trains, half-price fares on middle and long-distance trains, and on municipal transport.

The Spanish government pointed out that the "Iberian exception", which allows the Spanish and Portuguese governments to cap the price of electricity generated using natural gas, has had an important effect on cutting energy costs.

The level of core inflation (which doesn't include the more volatile costs of energy and fresh food) also dropped slightly, from 6.4 in August to 6.2 per cent in September.

September 30, 2022 Other Madrid

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

Inflation in Spain drops to 9% in Sep - Madrid News

September 30, 2022 Other Madrid

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