Spanish official inflation rises to near two-year high

29th September 2010, Comments 0 comments

Higher energy prices raised Spain's 12-month inflation to the highest level for nearly two years in September, official statistics showed Wednesday.

Prices rose by 2.0 percent over the 12 months to September after a 1.8-percent increase in August, according to preliminary figures from the National Statistics Institute.

It was the highest inflation rate since November 2008 when Spain slumped into a deep recession, which dampened consumer demand and led to a decline in prices.

The statistics institute did not give a full breakdown of the figures for September but said oil and fuel prices rose slightly. Oil prices have been pushing up the inflation rate since the end of 2009.

Final figures for inflation in September will be published by the institute on October 14.

© 2010 AFP

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