Spain's annual inflation rose to 4.9% in September, its highest level since February 2023, according to a flash estimate from the National Statistics Institute (INE). The Economy Ministry blamed mainly higher fuel costs from an energy shock tied to the war in Iran, with energy prices up 21.6% despite diesel subsidies, while core inflation edged up to 3.1%. The government was due to approve a new decree capping the last-resort gas tariff and butane prices, though it has limited fiscal room after two earlier aid packages.