Inflation accelerates to 3.8% in October

Inflation rose to 3.8% in October compared to 3.6% in September, according to the National Institute of Statistics. The underlying inflation rate, excluding volatile prices, was 2.8%. Energy prices increased from 15.3% to 17.4%, while unprocessed food prices remained stable at 3.7%. The Harmonized Index of Consumer Prices showed a year-on-year change of 3.9%, up from 3.6% in September. The government forecasts an average inflation rate of 2.9% for 2026 in its budget proposal.