Economy

Inflation in the Canary Islands remains lower than in Spain, but is growing due to housing

In the archipelago, the price of apartments and medicines is rising above all, while the cost of clothing and footwear is falling

EKN-EFE

viviendas de costa teguise en lanzarote compraventa

The consumer price index (CPI) rose 2.5% in October in the Canary Islands, according to data published this Friday by the National Statistics Institute (INE).

By sectors, prices in the islands rose mainly in housing, by 5.8%, hotels, cafes, and restaurants, by 4.9%, alcoholic beverages and tobacco, by 3.2%, and others, 3.1%, the INE details.

In Spain as a whole, the CPI rebounded in October to 3.1% year-on-year, also due mainly to the housing group, which experienced an increase of 7.5%.

In the archipelago, in any case, prices rose in all groups except clothing and footwear, which recorded a slight decrease of 0.5%.

Conversely, prices rose in medicine (2.5%), food and non-alcoholic beverages (2%), communications (1.8%), education (1.6%), transport (1.4%), and household goods and leisure and culture (0.2% in both cases).

The CPI recorded increases in all autonomous communities in October, with the Canary Islands having the second-lowest rate in the entire country, only above that experienced in Murcia, at 2.2%.

The Balearic Islands and the Community of Madrid presented the highest rates, with increases of 3.6% in both cases.