The annual rate of the consumer price index (CPI) moderated to 7% in the Canary Islands, falling 1.2% during the month of October, thanks mainly to the decrease in electricity, according to the data confirmed this Tuesday by the National Institute of Statistics (INE).
At the state level, inflation stands at 7.3%, a figure that coincides with that of the archipelago and is 1.6 points less than the 8.9% in September, and with this, the lowest figure since January, when the CPI stood at 6.1%. The CPI rate thus chains three consecutive decreases after the peak of 10.8% reached in July.
However, the archipelago and Cantabria are the communities that recorded the smallest decrease in October, compared to others such as La Rioja, Castilla-La Mancha and Castilla y León, with decreases of 2.1, 2 and 1.9 points, respectively.
The shopping basket continues to rise
The moderation of the evolution of prices is mainly reflected in the combined transport of passengers, a service that has obtained the largest drop with 38.7%, influenced by the subsidies and discounts applied.
In the case of housing, the rate decreased by more than 11 and a half points at the national level, to 2.6%. Behind this figure is the drop in electricity of 15.4% and, to a lesser extent, gas, compared to the increase in October 2021.
Prices also moderated in clothing and footwear, with a rate of 1.4%, two and a half points lower than the previous month.
However, the trend in food and non-alcoholic beverages is divergent, since they rose 15.4% year-on-year, one point higher than last month, representing the highest amount since the beginning of the series, in January 1994.
In detail, the largest increases in the interannual rate occurred in other edible oils, 58.9%; followed by sugar, 42.8%; and flours, with 37.8%. Also rising, around 30%, are butter, sauces and condiments and paper products.
The Ministry of Economy has highlighted that Spain is the second country with the lowest inflation in the European Union, only behind France, and with a record difference compared to the Eurozone.
