According to data released by the Spanish National Statistics Institute (INE), this evolution reflects the fall in the price of fuel, and also, although to a lesser extent, the fall in the prices of food and electricity compared to the rise seen in September 2023.

Leisure and culture also have an influence, with prices falling more sharply than in the same month of the previous year, adds the INE.

The annual rate of the leading indicator of core inflation - excluding fresh food and energy products - fell three tenths of a percentage point to 2.4%, the lowest level since January 2022.

The annual inflation rate in September is the lowest since March 2021, when it stood at 1.3%, when it began an upward trajectory that reached 10.8% in the summer of 2022.

The September rate also represents four months of moderation, after having stood at 3.6% in May, 3.4% in June, 2.8% in July and 2.3% in August.

Speaking to RNE, the Spanish Minister of Economy, Trade and Enterprise, Carlos Cuerpo, assessed the evolution of prices and stressed that, together with the progress in employment and wages, "little by little citizens are recovering their purchasing power".

"We are returning to a gradual moderation of inflation," he added.

On a monthly basis, consumer prices fell by 0.6% in September compared to August, according to this main CPI indicator.

As for the harmonised index of prices (HICP), which allows comparisons with other countries, the estimated year-on-year rate of change is 1.7%, seven tenths of a percentage point lower than that recorded in the previous month.

The estimated monthly change for the HICP is 0.1%.

The final CPI data, with full details by group and product, will be published on 15 October.