September inflation spikes to its highest level since early 2023
Consumer prices jumped sharply in September, reaching the highest point seen since early 2023, driven mainly by higher fuel costs.
According to the Instituto Nacional de Estadística, September recorded a pronounced jump in consumer prices, the highest level observed since the beginning of 2023. Inflation has now exceeded the 3% annual threshold for seven months in a row and has risen above 4% for a second consecutive month. The Ministry of Economy points to the escalating cost of fuels as the main driver, citing the continued energy shock stemming from the war in Iran and a base-effect from lower fuel prices in September 2025.
Although a fiscal package aimed at reducing fuel taxes has been in place since April, its measures have been phased out over time. Food prices have fallen slightly since March, and the government plans to unveil a new set of measures at the upcoming cabinet meeting, though details remain undisclosed. Core inflation, which excludes energy and food, also edged higher.
Why it matters
Rising inflation erodes purchasing power and may prompt further government policy actions.
How the sides frame it
MODERATE AGREEMENTBoth camps report the September inflation rate of 4.9% and cite rising fuel prices linked to the Iran conflict, but right-leaning coverage stresses the hardship for families and critiques the fading fiscal fuel-tax relief, while centrist coverage sticks to the raw statistics and mentions the existing discounts.
CENTER
Centrist coverage presents the inflation spike as a factual update, noting the 4.9% rate, its link to fuel price increases, and the continuation of modest fuel discounts.
RIGHT
Right-leaning coverage frames the inflation rise as a troubling surge that erodes household purchasing power and highlights the tapering of government fuel-tax relief measures.
The right emphasises
- inflation has exceeded 3% for seven consecutive months and over 4% for two months
- rising fuel costs and the Iran war are causing an "energy shock"
- the earlier fuel-tax relief package has been phased out, threatening families' purchasing power
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