Inflation rate in Spain down to 3.2% in November
Consumer Price Index drops 0.3 percentage points due to fall in prices of fuel and electricity
Inflation in Spain in November dropped to 3.2% according to preliminary figures released on Wednesday morning by Spain's statistics institute (INE).
The moderation in prices is mainly due to the decrease in costs of fuel and tourist packages, and of food and non-alcoholic beverages, which actually saw slight increases but are still lower than in November 2022.
As for electricity, prices also fell, although to a lesser extent than a year ago.
Core inflation, which ignores more volatile prices such as non-processed food and energy products, is down 0.7 percentage points to 4.5%.
The INE will publish the definitive inflation data for November in mid-December, when the figures for Catalonia will also known. In October, Catalonia's inflation rate stood at 3.4%.
Podcast: rising food prices
The cost of many basic food products – including olive oil, milk and eggs – has risen more than thirty percent in just two years.
That’s due to several factors – among them, the ongoing inflation across much of Europe.
But shoppers aren’t the only ones affected by price increases – farmers are just as fazed. In the latest episode of our podcast, Filling the Sink, we hear from the Catalan Farmers Union and talk to Barcelona residents about how they’ve changed their shopping habits.