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Catalonia's annual inflation rate in May stood at 0.5%, down from 0.7% in April

The so-called Consumer Price Index (IPC) – which represents the inflation rate – in May stood at 0.5% in Catalonia in annual terms. In April, it stood at 0.7% according to figures published on Friday by the Spanish Institute of Statistics (INE). Across the whole of Spain, inflation increased by 0.2% in May, while in April a 0.4% inflation rate was recorded, the IPC data confirms.  Core inflation – which does not take into account the prices of energy and unprocessed food –  fell from 0.3% in April to 0.0% in May. The product groups that had a greater impact on May's IPC were food and non-alcoholic beverages (-0.8%), recreation and culture (-1.1%) and hotels, cafes and restaurants (+0.5%).

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13 June 2014 06:59 PM

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ACN

Madrid (ACN.) - The so-called Consumer Price Index (IPC) – which represents the inflation rate – in May stood at 0.5% in Catalonia in annual terms. In April, it stood at 0.7% according to figures published on Friday by the Spanish Institute of Statistics (INE). Across the whole of Spain, inflation increased by 0.2% in May, while in April a 0.4% inflation rate was recorded, the IPC data confirms.  Core inflation – which does not take into account the prices of energy and unprocessed food – fell from 0.3% in April to 0.0% in May. The product groups that had a greater impact on May's IPC were food and non-alcoholic beverages (-0.8%), recreation and culture (-1.1%) and hotels, cafes and restaurants (+0.5%).


In the prices of food and non-alcoholic drinks, which fell nearly a percentage point (-0.8%), the decline in prices of pulses, vegetables, potatoes and oils, despite the gains recorded last year, was particularly noticeable. Also worth noting was that the prices of fresh fruit increased by less than they did in 2013.

The fall in the prices of leisure and cultural activities by more than a point (-1.1%), is a consequence of the decrease in holiday prices that follows the end of the Easter period. The prices of hotels, cafes and restaurants have dropped by approximately two tenths of percentage point this month after the celebration of Easter in April.

Despite the drop in the annual rate of IPC, the INE data indicates an increase in the field of transport, which has a rate of 0.8%, almost a percentage point higher than the previous month. This increase was attributed to the rising prices of fuels and lubricants.

Monthly inflation remains static at 0.0% in May

In May, the monthly inflation rate stood at +0.1% in Catalonia and 0.0% in the whole of Spain. Leisure and culture were among the product groups with a negative impact on the overall index, with a monthly change of -1.4% due to the decline in holiday prices.

Meanwhile, the product groups with the most positive impact on the overall index are clothing and footwear, with a monthly increase of 2.3%, reflecting the fluctuation of prices during the spring-summer season.

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  • Food prices had a significant impact on the overall inflation rate in May (by ACN)

  • Food prices had a significant impact on the overall inflation rate in May (by ACN)