The consumer price index (CPI) fell by six-tenths in September, declining for the second month in a row, from double digits after three months to above 10%.
Euskaraz irakurri: KPIa 1.5 point jaitsi da irailean eta % 9an kokatu da
The consumer price index (CPI) of the Spanish State in September decreased by six tenths compared to the previous month and suddenly cut its year-on-year rate by 1.5 points, up to 9%falling from double digits after chaining above 10% for three consecutive months, according to the advanced data published this Thursday by the National Institute of Statistics (INE).
The data for September, to be confirmed by the statistic by mid-next month, is 1.8 points lower than the peak reached in July last year, when the CPI was 10.8%, the highest level since September 1984.
With this 1.5-point moderation, inflation adds two consecutive months of declines to the year-over-year rate, after a three-tenths decline in August, to 10.5%.
According to the INE, the moderation in the year-on-year CPI to 9% is mainly due to the decline in electricity prices and, to a lesser extent, lower fuel and transport prices.
In monthly terms (September to August), the CPI registered a six-tenths decline, the biggest monthly decline since July 2021, when it fell eight-tenths.
Core inflation moderates to 6.2%
The INE includes in the preview of the CPI data an estimate of core inflation (excluding unprocessed foods or energy products), which fell two-tenths to 6.2% in September, nearly three points below the overall CPI.
This is the first decline in core inflation after fourteen consecutive months of increases, taking the indicator last month to its highest level since January 1993 (6.4%).
In the ninth month of 2022, the Harmonized Index of Consumer Prices (IPCA) placed its inter-annual interest rate at 9.3%, more than a point lower than the previous month. For its part, the estimated monthly variation of the IPCA was 0.0%.
The INE will publish the final CPI data for September on October 14.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
