Spain's annual inflation stood at 1.5% in September, the country's National Statistics Office (INE) said on Tuesday, matching the preliminary reading. The figure remained below August's rate of 2.3% and is the lowest since March 2021.

The slowdown in inflation was mostly attributed to transport prices, which fell 3.9% annually, and to food and non-alcoholic beverages which annual rate dropped by 0.7 percentage points to 1.8%.

On a monthly basis, consumer prices decreased 0.6%. The Harmonized Index of Consumer Prices climbed 1.7% year on year and declined 0.1% from August. Meanwhile, the annual core inflation rate, which excludes unprocessed food and energy products, stood at 2.4%.