Spain’s annual inflation rate was confirmed at 4.9% in September 2026, its highest level since February 2023, up from 4.3% in August. Transportation was a key contributor to the increase, with inflation climbing to 10.5% from 9.5%, partly reflecting higher fuel and lubricant prices for personal vehicles. Meanwhile, price growth accelerated significantly for recreation and culture (3.6% vs 1.2%), due to package holidays. Meanwhile, the core inflation rate, excluding unprocessed food and energy products, inched up to 3.1% from 2.9% in August, reaching the highest level since March 2024. Compared to the previous month, the CPI rose by 0.3%, following a 0.7% increase in August, in line with early estimates.