Spain's August inflation rate reached its highest level since early 2023.

On September 15 local time, final data from Spain's National Statistics Institute showed that the country's inflation rate in August was far higher than expected, reaching 4.3%, up 0.7 percentage points from the previous month and the highest level since February 2023. It is reported that rising fuel prices caused by the escalation of the Middle East conflict were the main reason Spain's inflation rate hit a new high in August. Data from Spain's National Statistics Institute showed that the country's fuel prices rose 24% year-on-year in August, the highest level since July 2022.