Spain's inflation rises to 4.9% in September as diesel gets 35.7% dearer in a year

Spain's consumer price index rose 4.9% year on year in September, up 0.6 points from the previous month, according to final data from the INE. The Ministry of Economy attributed the jump mainly to higher fuel prices and the cost of tourist packages. Carwow's analysis puts the average price of diesel at 1.89 euros per litre against 1.788 euros for petrol, a gap of about ten cents. Diesel has risen 35.7% over the past year compared with 24.8% for petrol, and a 50-litre tank of diesel now costs about 25 euros more than it did a year earlier. Carwow says diesel has been more expensive than petrol in only three periods in the past 26 years: 2008, 2022 and 2026.

A 20-cent-per-litre fuel tax cut on petrol and diesel applies in October. Carwow notes that the reduction initially planned for November is 13 cents per litre and for December 6 cents, which could push prices up again, although those amounts could change if safeguard mechanisms tied to fuel inflation are triggered. The Ministry of Economy said the 20-cent cut will remain in force from 1 November, under a third protection package that the Congress's Diputación Permanente still has to ratify. No VAT or electricity tax cuts will apply, because electricity inflation stood at 11.4%, below the 15% threshold that would trigger them. Alberto Nadal, the PP's deputy secretary for economy, blamed the government for the rise and called for the party's tax-cut plan to be applied.