- Core inflation, which excludes the most volatile elements of the CPI, remains at 0.8%
The general CPI increased by 2.3% year-on-year in September, a rate higher by one tenth than that advanced by the INE and that registered in August. This slight increase in inflation is mainly due to the acceleration of electricity prices, partially offset by the lower increase in the prices of unprocessed foods, especially those of fresh fruits.
The prices of energy products accelerated in September nine tenths, up to 12% year-on-year. This higher growth is mainly explained by electricity prices, whose rate increased almost three points to 13.7% and, to a lesser extent, by gas prices, which accelerated 1.1 points, to 2, 4%. On the other hand, the prices of fuels and lubricants moderated the growth rate seven tenths, up to 12.3%.
The prices of unprocessed food grew in September nine tenths less than in August, at a rate of 3.7% year-on-year, highlighting the slowdown in prices of fresh fruits, 5.4 points, up to a rate of 11.9 %.
Thus, core inflation, which excludes the most volatile elements of the CPI (unprocessed food and energy products), remained in September at 0.8% year-on-year.
Among the components of core inflation, the prices of processed food, beverages and tobacco accelerated one tenth, to 0.8% year-on-year.
The prices of non-energy industrial goods decreased slightly in September, 0.1% year-on-year, highlighting the prices of cars, which increased at a rate of 0.8%, higher by seven tenths than in August, and, in In the opposite direction, the publications, whose prices moderated 1.2 points the rate of rise, up to 0.4%.
Services prices maintained a 1.3% year-on-year growth rate in September, highlighting passenger air transport, whose prices decreased 10%, double that of the previous month, and tour package prices, which intensified three tenths the intensity of the fall, up to 4.7%. On the contrary, the prices of accommodation services accelerated 1.8 points, up to 3.9%.
The interannual rate of the CPI increased in September in nine Autonomous Communities, corresponding to the largest increase in Castilla-La Mancha, Castilla y León and Extremadura (two tenths in each case, up to 2.7%, 2.6% and 2.4 %, respectively); inflation decreased in Cantabria (two tenths, up to 2.2%), Asturias and the Basque Country (one tenth in both, up to 2.1%); and remained in the rest.
The interannual rate of the CPI at constant taxes stood at 2.3% in September, as was the one recorded by the general CPI.
In inter-monthly terms, the CPI recorded an increase of 0.2% in September 2018, identical to that of the same month of 2017.
The INE has also published the harmonized CPI (CPI) for the month of September, whose annual rate also increases one tenth, up to 2.3%. On the other hand, the rate advanced by Eurostat for the euro zone as a whole stands at 2.1% year-on-year in September.
