Spain's inflation reaches 3.5 pct in September

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0 Comment(s)Print E-mail Xinhua, September 29, 2012
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MADRID, Sept. 28 (Xinhua) -- The inflation rate reached 3.5 percent in Spain in September, according to the estimate revealed Friday by the Spanish National Statistics Institute (INE).

Data of the Consumer Price Index (CPI) published on Friday mean three consecutive months of rises of the Spanish inflation rate.

In July the inflation rate was 2.2 percent and it increased because of the increase in the price of medicines. In August the inflation rate experienced a 0.5 percent increase due to the high fuel prices, at record highs.

In September the increase is due to the Value Added Tax. The standard one increased from 18 percent to 21 percent and the reduced one from 8 percent to 10 percent. This implied a 0.8 percent increase over August inflation rate.

Data provided by the INE on Friday are an estimate and definitive data will be known on Oct. 11. Enditem

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