Prices in Catalonia rise by 1% and contribute to a 0.9% annual inflation rate in October
Prices went up by 1% in October, in comparison to September, and left the annual inflation rate in Catalonia at 0.9%, according to the definitive data released on Tuesday by the Spanish National Institute of Statistics (INE). The products that influenced the increase in prices most were the clothing and footwear sector, due to the start of the winter season, and the price of electricity and fuel – both rose in October this year, while they decreased in the same month of 2015. The inflation rate at the end of October is the highest registered since August 2013, when it reached 1.7%, and confirms an upward trend that has now lasted for three months.
Barcelona (CNA).- The start of the winter season in the clothing and footwear industry, as well as an increase in the price of electricity provoked a 1% rise in the price index in comparison to September and, consequently, the annual inflation rate in October rose to 0.9% in Catalonia. In annual terms, the expenses that drove up inflation the most were the electricity bill, which rose this October (having decreased in the same month last year), and fuel, which also bettered its performance in comparison to October 2015. According to data released this Tuesday by the Spanish National Institute of Statistics (INE), the positive inflation rate registered in October now means three months in a row of upward trend and is the highest inflation rate registered in Catalonia since August 2013 (1.7%).
In addition to the prices of electricity and fuel, housing, transport and clothing also contributed to the increase in inflation. Specifically, in Catalonia, the price of clothing increased by 11.6%, housing by 1.7% - due to the rise in the cost of electricity - and transport by 1.1%. On the contrary, the shopping basket of food and non-alcoholic beverages cooled inflation due to the stagnation of the price of fresh fruits and olive oil.
The annual inflation rate recorded in Catalonia this October was five percentage points above the rate registered in September and is the third highest rate in Spain, only behind Asturias and Navarra, with an inflation rate of the 1%.
Spanish inflation rate increased 5 percentage points in October
In the whole of Spain, prices rose 1.1% in October compared with September and the annual inflation increased five percentage points, going from 0.2% in September to 0.7% this October. This is the highest figure registered since August 2013 (1.5%).
Core inflation, which does not take into account the most volatile prices – such as those of oil and fresh food - stood this October in Spain at 0.8% (INE does not provide disaggregated data for Autonomous Communities).