The price of housing falls in the Canary Islands, but does not curb inflation, spurred by the closure of Hormuz

Except for housing, all products are becoming more expensive in the archipelago, due to the increase in fuel and transport prices because of the conflict in the Strait of Hormuz

May 14 2026 (20:20 WEST)
Contenedores marítimos. El transporte se ha encarecido en Canarias tras el cierre de Ormuz
Contenedores marítimos. El transporte se ha encarecido en Canarias tras el cierre de Ormuz

The price of housing has decreased by 0.8% in April in Canarias compared to the same month last year and compared to March the decrease was 2.8%, according to data released this Thursday by the Instituto Nacional de Estadística. 

However, the rest of the products have continued to rise to the point that the consumer price index (IPC) rose in April in Canarias by 0.7%, reaching 3% year-on-year, compared to the national 3.2%.

The recent rise is mainly linked to geopolitical tension in Oriente Medio and uncertainty about the Strait of Ormuz.

So far this year this indicator has rebounded in the islands by 1.3%, according to data released this Thursday by the Instituto Nacional de Estadística (INE).

In the last month, the most inflationary category in the archipelago has been that of clothing and footwear, in which prices have risen by 10.2%.

So far this year, transport has registered a price increase of 7.7% in Canarias, followed by restaurants and accommodation, whose prices have grown by 4.9% year-on-year, while that of insurance and financial services have done so by 3.9%.

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