Inflation in the Canary Islands rises to 5.5%

Food prices still suffer an inflation of 12.9%, while housing prices have fallen by 0.7% in April

May 12 2023 (10:59 WEST)
Updated in May 12 2023 (12:19 WEST)
Fruits in a grocery store
Fruits in a grocery store

The annual inflation rate has increased nationally by eight tenths in April, to 4.1%, while in the Canary Islands it rises by the same amount, but starting from a higher figure, reaching 5.5%.

The national rise is explained by the increase in fuel and a smaller decrease in electricity, while the increase in the price of food has moderated to 12.9% after chaining two months with record increases above 16%.

In the Canary Islands, the CPI accumulates an increase of 2% so far this year and the latest monthly increase is explained by the 14% increase that clothing and footwear have registered, since the prices of food and non-alcoholic beverages have increased by 0.2%, while those of housing have decreased by 0.7% compared to March of this year.

The National Institute of Statistics (INE) has confirmed this Friday the general inflation data advanced two weeks ago, as well as the underlying inflation (excluding energy and fresh food), which at the national level moderated 0.9 points and stood at 6.6% year-on-year due to the slowdown in food prices.

The moderation in 3.5 points of food inflation in April at the national level is the largest in the historical series and has been influenced by the drop in the price of legumes and vegetables, and by a smaller increase than a year ago in the price of meat, bread, oils, milk, cheese and eggs.

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