Inflation climbs to 8.5% in the Canary Islands, the highest rate in 37 years

The Consumer Price Index (CPI) rose in June in the Canary Islands by 1.5% compared to May, with which the annual inflation stands in the islands at 8.5%, the highest rate in 37 years, since June 1985.

However, the Canary Islands still has the lowest inflation in Spain, almost two points below the national average, where it already reaches 10.2%, after the CPI rose 1.9% in June.

Last month, prices rose especially in transport (a category that includes fuels), 2.9%; housing (where electricity and gas are counted), with 2.5%; and leisure and culture, with 2.2%.

The prices of food and non-alcoholic beverages rose 1.5%, those of tourism and hospitality, 1.2%; those of alcohol and tobacco and those of the other services sector increased by 0.5%; and those of medicine and household goods increased by 0.2%. On the other hand, they remained in education and fell by 0.1% in both clothing and footwear and telecommunications.

In the last twelve months, the most inflationary section of the Canarian economy is transport (with fuels), with 13.9%; followed by housing (with electricity and gas), with 13.4% and food, with 13.3%.

Hotels, cafes and restaurants have become more expensive in the last year by 6.4%; household goods, 6.0%; the other services sector, 4.1%; leisure and culture, 3.4%; alcohol and tobacco, 3.1%; education, 1.6%; and medicine, 1.1%. On the other hand, clothing and footwear have become cheaper, 2.6%, and telecommunications, 0.3%.