29 Sept 2021
Spain's Inflation Surged to a 13-year-High Fueled by Energy Costs
The Index Today
Flash data from the National Statistics Institute (INE) showed on Wednesday that the Spain's inflation surged to a 13-year-high in September as national consumer prices rose 4.0% year-on-year.
According to INE, the highest reading since September 2008, when the rate was 4.5%, was fueled by energy costs and to a lesser extent by the prices of tourism packages and vehicle fuels and lubricants.
Right now the Spain and other European countries have faced soaring energy bills as gas prices rocket on factors such as low storage stocks.
Higher industrial prices are usually passed on into consumer prices, at least partly, within weeks.