Inflation has moderated in December in the Canary Islands to conclude the year at 5.8 %, 1.1 points below the level it had only a month earlier (6.9 %), due to lower fuel prices and the lower rise in the price of electricity, according to data published by the National Statistics Institute (INE).
The behaviour of the year-on-year CPI rate in the islands has been very similar to that observed in Spain as a whole, where the same factors also caused inflation to fall by 1.1 points from November to December, in this case from 6.8 % to 5.7 %.
The detailed data for the Canary Islands indicate that prices rose from November to December by 0.1 %, with particularly significant monthly increases in leisure and culture (1.3 %), food (1.0 %), other goods and services (0.8 %) and household goods (0.7 %).
In contrast, in the last month of the year, transport (which includes the impact of fuel prices) fell by 2.8 %, clothing and footwear by 1.6 % and alcoholic beverages and tobacco by 0.2 %.
In the final balance for 2022, the most inflationary sector of the Canarian economy was food, which rose by 15.3% (four tenths of a percentage point less than in the rest of the country), followed by tourism and restaurants, with a rise of 8.8%; household goods, with 8.4%; transport, with 5.6%; the heading of other goods and services, with 5.0%; and alcoholic beverages and tobacco, with 4.3%.