Spain's inflation holds at 4.9% in October

Spain's annual inflation, October

4.9 %

Spain's annual inflation stayed at 4.9 per cent in October, the same as in September, the national statistics institute's flash estimate shows. It is the highest level since February 2023.

Vehicle fuel fell more than a year earlier, but gas became more expensive and heating oil rose after falling last year. Core inflation, which excludes fresh food and energy, was unchanged at 3.1 per cent.

What's next

The think tank Funcas had expected 4.6 per cent for October and sees 4.3 per cent in December. The government will keep its 20-euro-cent fuel tax cut in November instead of phasing it down.

Spain

The statistics institute will publish the final October figure on Nov 13.