Spain's inflation rises at fastest pace in more than three years

Oct 14 (Reuters) - Spain's ‌inflation rose ​in ​September at its fastest pace since February 2023, mostly due to an increase ‌in the price of fuel and air ⁠travel, the National Statistics Institute (INE) said on Wednesday.

The European Union-harmonised ‌12-month inflation rate rose ‌to 5.0% in September, up from 4.6% in the period through August, final data released ​by the INE showed.

The INE's final data was in line with the 5.0% forecast ⁠in both the flash reading released two weeks ago and the ​average estimate from analysts polled by Reuters.

Core inflation, which strips out volatile fresh food ​and energy prices, rose to ‌3.1% in the 12 months through September, up from 2.9% in the ⁠period through August, the INE said.

Following a worldwide wave of high inflation spurred by the COVID-19 pandemic ⁠and Russia's invasion of Ukraine, Spain's inflation spiked to 1984 ​levels in 2022 and has since mostly remained above the European Central Bank's 2% goal.

Spanish national consumer prices rose ‌by 4.9% in the 12 months through September, up from a 4.3% ‌increase in the period through August, and in ⁠line with the ‌4.9% rate initially ​measured by the INE two weeks ago.

(Reporting by Javi West Larrañaga; Editing by David ‌Latona)

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