November inflation rate lowest since January
Prices in Catalonia up 6.4% compared to last year, with the rate dropping for the fourth consecutive month
Inflation in Catalonia in November dropped to 6.4% according to data released on Wednesday morning by Spain's statistics institute (INE),
Spain's rate of change of prices fell to 6.8%, confirming the preliminary figures released at the end of last month.
Both figures are the second-lowest inflation rate this year after January's figures: 5.9% in Catalonia and 6.1% in Spain.
If the preliminary inflation figure for November is accurate, it will be the second-lowest rate this year after January's 6.1%.
Excluding energy and processed food products, however, inflation is at 6.3%, up from two months in a row at 6.2%.
Filling the Sink podcast
After a decade of low inflation and low interest rates, price hikes following the Covid-19 pandemic and Russia's war in Ukraine have left many feeling the pinch.
Press play below to listen to the Filling the Sink podcast episode released on November 5, 2022 about the cost of living crisis in Catalonia.
The decrease in fuel and electricity costs is largely responsible for bringing prices down by 0.4 percentage points compared to October, while shoes and clothes are also somewhat cheaper.
Food prices also increased in the last month, but less significantly than in the previous month.
This is the fourth month in a row in which inflation has declined after peaking in July at 10.3%. In the same month, Spain's consumer price index peaked at 10.8%.
The latest data confirms that contributory pensions will rise by 8.5% next year.
Filling the Sink podcast
After a decade of low inflation and low interest rates, price hikes following the Covid-19 pandemic and Russia's war in Ukraine have left many feeling the pinch.
Press play below to listen to the Filling the Sink podcast episode released on November 5, 2022, about the cost of living crisis in Catalonia.
