据Daniel Basteiro报道，西班牙通胀加速超出预期，并进一步偏离欧洲央行2%的目标，强化了进一步加息的理由。
By Daniel Basteiro Spanish inflation accelerated more than anticipated and further beyond the European Central Bank’s 2% target, reinforcing the case for interest rates to be lifted further.
周二公布的数据显示，9月消费者价格上涨5%，高于8月的4.6%。这是自2023年2月以来的最高水平，也高于彭博调查分析师的中位数预估4.9%。
Consumer prices rose 5% in September, up from 4.6% in August, data Tuesday showed. That’s the highest since February 2023 and above the 4.9% median estimate in a Bloomberg survey of analysts.
统计局表示，燃料和套餐假期推动了涨幅的扩大。一项潜在价格压力指标也超预期上升。
Fuel and package holidays were behind the steep rise, the statistics agency said. A gauge of underlying price pressures also advanced more than expected.
欧洲正面临因伊朗战争导致的能源成本再次上升，尽管该地区经济迄今表现出人意料的韧性。西班牙的数据是本月首个主要欧元区成员国公布的通胀数据，其他国家也很可能报告更高的读数。
Europe is grappling with a renewed upswing in energy costs stemming from the Iran war, though the region’s economy has so far held up surprisingly well. Spain’s numbers are the first for this month from a major euro-area member, with others all likely to report faster readings as well.
21国欧元区将于周五公布数据，经济学家预计通胀将升至3.7%的三年高点，几乎是欧洲央行目标的两倍。
The 21-nation euro zone will release figures on Friday, with economists estimating inflation hit a three-year high of 3.7%, almost double the ECB’s goal.
周一，行长拉加德重申，二轮通胀效应迄今仍未出现，这意味着欧洲央行应采取"measured response as appropriate to keep inflation in check." 虽然决策者迄今已将存款利率上调两次至2.5%，但市场定价本周期内还有近四次25个基点的加息。拉加德表示较高的债券收益率将抑制通胀和经济，交易员因此减少了加息押注。
Speaking on Monday, President Christine Lagarde reiterated that second-round inflation effects are so far absent, meaning the ECB should adopt a “measured response as appropriate to keep inflation in check.”While policymakers have so far raised the deposit rate twice, to 2.5%, markets are pricing almost four more quarter-point moves in this cycle. Traders trimmed bets after Lagarde said higher bond yields will weigh on inflation, as well as the economy.
西班牙一直是欧洲增长的亮点，这也导致其通胀较快。据西班牙央行预测，今年GDP将增长2.3%，2027年增长1.7%，而失业率处于2008年金融危机以来的最低水平。
Spain has been the continent’s standout growth story, contributing to its speedier inflation. Gross domestic product will rise 2.3% this year and 1.7% in 2027, according to the country’s central bank, while unemployment is at the lowest since the financial crisis in 2008.
西班牙央行在6月表示，2026年全年通胀可能达到3.6%，这还是在最近石油和天然气价格飙升之前的预测。
Inflation for the whole of 2026 is likely to come in at 3.6%, the Bank of Spain said in June, before the latest jump in oil and natural gas prices.