The consumer price index (CPI) rose in October to 1.8% year-on-year, three tenths more than the previous month, due to the increase in the cost of electricity and gas and fuels and lubricants, while food and beverages did not alcoholic beverages rose one tenth, up to 1.9%.
The National Institute of Statistics (INE) confirmed this Thursday the data advanced two weeks ago, as well as the underlying inflation rate (without energy or unprocessed food), which stood at 2.5% year-on-year, one tenth per cent. above that of September.
The group that stood out the most for its influence on the increase in the annual rate was housing, with an annual variation of 4.2%, 1.3 points above that of last month, due to the rise in house prices. electricity and gas, compared to the decrease in the same month of 2023.
The transport group also pushed up the CPI, since despite being in negative territory, the rate increased nine tenths as a result of the increase in the cost of fuels and lubricants for personal vehicles, compared to the drop in October of the previous year.
Food and non-alcoholic beverages rose one tenth in October, reaching the rate at 1.9%, an increase that coincides with the return of the application of VAT to basic foods, initially at 2% until December, and then move to the super-reduced rate of 4%.
Chocolate, what rises the most
Of the components of the shopping basket, chocolate rose the most, 21.2%, followed by fruit juices (14.8%), sheep and goat meat (11.1%), cocoa and chocolate powder (10.1%) and potatoes (8.8%).
The foods that have gone into negative territory are sugar, which fell by 4.4%; other edible oils, 4.2%; pizzas and quiches, 4%; fresh fruits, 3.7%; and other cereal-based products, with a decrease of 3.2% in the interannual rate.
Olive oil is 4.2% more expensive than a year ago, 163% more than since January 2021, and its price rose 0.1% compared to September, breaking the downward trend in the monthly rate for the last five months.
Leaving aside the food sector, the biggest increases in October compared to the same month of the previous year were recorded in passenger transport by sea, with an increase of 40.2%; jewelry and costume jewelry, 15.5%; and national tourist packages, 15.1%.
At the opposite extreme, the greatest decreases were recorded in liquid fuels, with a reduction of 22.3%; diesel, which falls by 15.7%; mobile telephone equipment, 11.8% less; gasoline, with a drop of 9.5%; and personal computers, with a drop of 5.7%.
Monthly inflation was 0.6%
In monthly comparison, consumer prices rose 0.6% compared to September – their largest monthly increase since October 2021 – and the groups with the greatest positive impact were clothing and footwear, due to the rise in prices at the beginning of the season, and food and alcoholic beverages, due to the increase in the price of fruits, legumes and vegetables.
What rose the most in price in October were other clothing items (15.2%) and women’s clothing (9.7%), men’s (9.3%) and children’s clothing (9.2%), while Hotels fell the most, 5.9%.
The CPI registered positive annual rates in October in all the autonomous communities, with the highest rates in the Basque Country (2.3%) and Aragón (2.2%) and the lowest in Castilla-La Mancha (1.4% ).
In the month of October the annual variation rate of the IPCA stood at 1.8%, one tenth more than that registered the previous month. The monthly variation was 0.4%.
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