Spain's September consumer prices rose 5.0% YoY, up from 4.6% in August and
above the median 4.9% forecast, the highest since Feb 2023, the national
statistics office said. Fuel and travel-package costs were the main drivers and
the core inf also exceeded expectations. The print reinforces market bets on
further ECB tightening as Europe faces renewed energy-cost pressure from the
Iran war; Spain is the first major euro-area member to publish September data
and other countries may report higher readings.
