The rise in electricity wholesale prices is filtering through to consumers. | Europa Press

Provisional data for September from the National Statistics Institute (INE) point to a 0.8% increase in the consumer price index (CPI) compared with August and to an interannual CPI of four per cent, the highest since inflation was 4.5% in September 2008.

The rise in electricity prices stands out, as prices are far higher than a year ago. To a lesser extent, the price of fuel for personal vehicles has contributed to the rise in inflation. In addition, the price of holiday packages has fallen less than was the case a year ago. The monthly rise in the CPI is the highest since April.

In its calculations, the INE includes an estimate of core inflation, which excludes non-processed food and energy products, and which has risen three tenths in September to one per cent, so three per cent below the general CPI. This difference is the greatest since current statistics started in 1986.

Definitive CPI data for September will be published on October 14.