The CPI jumps to 4.3% in August, its highest rate in more than three years, due to gasoline prices

Spain's Consumer Price Index (IPC) rose to 4.3% in August, marking a seven-tenth increase from the 3.6% recorded in July. According to preliminary data from the National Statistics Institute (INE), this represents the highest inflation rate recorded in the country since February 2023.

The primary driver behind this inflationary spike is the rising cost of fuels. This increase follows a period of relative stability and places the current rate at its highest point in over three years, reflecting a significant shift in consumer price trends for the month.