Tobacco, fuel prices and fresh food put annual inflation in Catalonia at 3.2% at the end of September
Comparing the annual inflation rate registered in August, prices increased from 3.0% to 3.2%, after four consecutive months of drops. For the whole of Spain, the annual inflation in September was 3.1%.
Madrid (ACN).- The increase in the price of alcoholic drinks, tobacco and fuel provoked a slight increase in the annual inflation rate in September. In August the inflation rate in Catalonia was 3.0% and at the end of September it rose to 3.2%, according to data released on Tuesday by the Spanish National Institute of Statistics (INE). The inflation rise in September broke a four month trend of continuous price decreases. For Spain as a whole, the annual inflation rate at the end of September was 3.1%, up from 3.0% in August. The underlying inflation rate, which is the inflation rate that excludes volatile goods such as energy products and fresh food, was 1.7% at the end of last month.
The price of alcoholic drinks and tobacco have risen by 9.2% over the past 12 months. Transport prices have also increased significantly over the year because of the 7.9% rise in fuel prices. Finally the products that have also increased their price in comparison to those in September 2010 are food and non-alcoholic drinks. At the end of September 2011 they were 2.3% more expensive than 12 months ago. The food products that have contributed the most to the price increase have been fresh fish and dairy products, according to the INE.
The annual inflation rate breaks a four month downward trend
The evolution of the aforementioned goods explained the inflation rate rise produced last September, passing from 3.0% in August to 3.2% the following month in Catalonia. The downward trend in the rate registered in May (3.5%), June (3.3%), July (3.1%) and August (3.0%) has ended.
In Spain as a whole, the trend has also ended. The inflation rate passed from 3.0% in August to 3.1% in September. This data coincides with the advanced inflation rate announced on September 29th.
Underlying inflation rate set at 1.7%
The annual underlying inflation rate registered in September was 1.7%. This type of indicator is calculated excluding the regular inflation rate of the most volatile products, such as fresh food and fuels.
Lastly, the harmonised annual inflation rate, calculated with the same criteria for the entire Euro Zone, reached 3% in Spain in September. In August, the data registered was 2.7%.