Spain's annual inflation rate rose to 1.8% in October 2024, up from a 3.5-year low of 1.5% in September, largely driven by higher energy costs.
Spain inflation rose but below ECB's target
Core inflation, which excludes volatile components like food and energy, edged up to 2.5% from 2.4% in the previous month, marking a slight increase after hitting a more than 2.5-year low. This figure matched the preliminary estimates.
Also harmonised rate below target
Additionally, the EU-harmonised inflation rate for Spain increased to 1.8% in October, slightly above September's 1.7%, consistent with earlier projections.
