Catalonia posts a -0.1% annual inflation rate in November, the second negative figure in 2014
For the second time this year, prices have decreased in Catalonia in annual terms. By the end of November, inflation dropped by -0.1% compared to 12 months ago, mostly due to a drop in electricity and fuel prices, according to figures released on Friday by the Spanish Statistics Institute (INE). In monthly terms, prices stagnated over November compared to the October ones. In the whole of Spain, prices dropped by -0.1% in monthly terms and by -0.4% in annual terms. Spain is now accumulating 5 consecutive months of negative inflation rates. The INE explains this annual drop by the price decrease of housing (which includes electricity), transport (which includes fuels) and food and non-alcoholic drinks. In November electricity prices only increased by 0.7% in annual terms, while they grew by 1.7% in October. Fuel prices dropped by -1.8% in November, while they had only decreased by -1.1% in October.
Barcelona (ACN).- For the second time this year, prices have decreased in Catalonia in annual terms. By the end of November, inflation dropped by -0.1% compared to 12 months ago, mostly due to in electricity and fuel prices, according to figures released on Friday by the Spanish Statistics Institute (INE). In monthly terms, prices stagnated over November compared to the October ones. In the whole of Spain, prices dropped by -0.1% in monthly terms and by -0.4% in annual terms. Spain is now accumulating 5 consecutive months of negative inflation rates. The INE explains this annual drop by the price decrease of housing (which includes electricity), transport (which includes fuels) and food and non-alcoholic drinks. In November electricity prices only increased by 0.7% in annual terms, while they grew by 1.7% in October. Fuel prices dropped by -1.8% in November, while they had only decreased by -1.1% in October. Finally, food and non-alcoholic drinks increased their prices by 0.7% in November, while a month ago they had grown by 1%.
In Catalonia, prices of important sectors decreased from in November compared to October. Transport prices dropped by -1.2%; housing, -1.1%; hotels and restaurants, -0.7%; and culture and leisure, -0.6%. Meanwhile, the prices of clothing and footwear increased by 5.5%, coinciding with the arrival of cold temperatures.
Regarding the 4 Catalan Provinces, annual prices dropped in all of them except in Barcelona. In the central province, where two third of the Catalan population live, prices grew by 0.1% compared to November 2013. In fact, the Barcelona Province has not registered a negative annual inflation rate since September 2009, when it reached -0.1%. In monthly terms, prices stagnated in Barcelona.
In Girona (north-eastern Catalonia, where the Costa Brava is located), annual prices dropped by -0.4% in November, compared to the same month of 2013. It is the lowest inflation rate registered in Girona since October 2009 (-0.9%), although this province did not registered negative prices since October 2013. In monthly terms, inflation decreased by -0.3% in November.
In Lleida Province (western Catalonia), annual prices dropped by -0.6%, which represents the 6th consecutive negative annual rate for this area. In monthly terms, prices decreased by -0.1%.
Finally in the Province of Tarragona (southern Catalonia, where the Costa Daurada is located), annual prices dropped by -0.7%, accumulating 7 consecutive months of annual decreases. Furthermore, it represented the most negative rate for the last 6 months. In monthly terms, prices decreased by 0.4% compared to October's. Since September 2013, Tarragona has only registered a positive annual rate on 2 occasions.