DATA SNAP: Spain September CPI -1% Vs -0.8% In August

MADRID -- The pace of decline of Spanish consumer prices accelerated again in September, data from Spain's National Statistics Institute showed Wednesday.

In a statement, the INE said its consumer price index fell in September at an 1% annual rate and declined at a 0.2% monthly rate. In August, consumer prices fell at an 0.8% annual rate and rose at an 0.3% monthly rate.

On a European Union-harmonized basis, September consumer prices fell 1% on the year, matching an estimate the INE gave Sept. 29.

Stripping out volatile energy and fresh food prices, underlying Spanish consumer prices rose a modest 0.1% on the year in September, down from the 0.4% rate of increase posted in August.

The broad-based easing of price pressures in Spain reflects slack demand in a deep recession. In March, Spain became the euro zone's first country to report an annual decline in consumer prices.