Inflation rate in Catalonia rises to record high 5.2%
October rise due to drop in prices last year coupled with sharp increase in electricity, water, and gas costs
Prices rose in Catalonia by 1.7% between October and September and stood at +5.28% compared to the same month in 2020.
These figures are the highest monthly and yearly rise Catalonia has seen since records were kept of the price fluctuations in the various territories of Spain, which began in 2002.
The figures are according to data published this Friday by the National Statistics Institute (INE).
The rate of change in the Consumer Price Index (CPI) is down to the fall in prices recorded in October last year (-1.1%) combined with the sharp rise in the prices of electricity, water, and gas (+17.7%), and fuels (+12.6%). Supplies have been rising 8% or more every month compared to a year before for the past seven months, a similar trend to fuel.
Have a listen to our recent podcast about the rising electricity prices:
As for other products, prices are also in general going up, but a slower pace. For instance, food and non-alcoholic drinks were 1.7% more expensive in October compared to 12 months before. Restaurants and hotels (1.7%), culture and leisure (1.5%), education (1.4%), clothes and footwear (1.2%), health (1.1%), furniture (1.%), and tobaco and alcoholic drinks (0.7%) follow similar trends.
Spain as a whole is also experiencing unusually high inflation, with a 5.4% annual increase, the highest rate since 1992.