Spain's Inflation Update

(Reuters) – Spain's European Union-harmonised 12-month inflation fell to 1.7% in September, down from 2.4% in August, according to final data released by the National Statistics Institute (INE) on Tuesday.

The 12-month inflation rate matched the flash estimate reported by INE two weeks prior, as well as the average expectations of analysts polled by Reuters.

Core inflation, which excludes volatile fresh food and energy prices, was 2.4% for the 12 months ending in September, down from 2.7% a month earlier, INE indicated.

Spanish national consumer prices also decreased to 1.5% for the 12 months ending in September, compared to 2.3% in August.

The final reading aligned with the flash estimate released by INE two weeks ago, and analysts polled by Reuters had similarly anticipated a 1.5% rate.