Spain inflation climbs to near 5%, the highest in over three years

Spain September preliminary CPI +4.9% vs +4.6% y/y expectedPrior +4.3%Spain September preliminary HICP +5.0% vs +4.9% y/y expectedPrior +4.6%The breakdownThe numbers are running hotter than expected with headline annual inflation climbing to 4.9%, its highest since February 2023.Meanwhile, core annual inflation is also seen accelerating further from 2.9% to 3.1% in September. That suggests the…