14 Oct, 2022 @ 13:30
1 min read

Spain’s Finance Minister says inflation rate fall is accelerating

Spain's Finance Minister says inflation rate fall is accelerating
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SPAIN’S Finance Minister, Nadia Calvino, has said that the country’s inflation rate fall is accelerating.

In an interview with the Reuters news agency, Calvino said that after September’s inflation rate fell below 9%, she was optimistic that further reductions would continue during the autumn.

Calvino is in Washington for meetings of the World Bank and the IMF, and she’s the chairperson of the IMF steering committee.

“We just got the very good news that the final inflation number for September is below 9%, and so the downward trend that started during the summer is accelerating,” Calvino told Reuters.

She added that inflation had begun to slow over the summer and latest figures suggested more falls..

“That downward trend should continue in the coming months, provided that energy prices worldwide do not go up significantly,” Calvino said.

Spain saw its highest inflation rate since the mid-eighties during the summer, peaking at 10.8% in July.

Projections suggest a 3% rate sometime in 2023.

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