The National Statistics Institute (INE) confirmed on Tuesday that the consumer price index (CPI) stood at 3.2 % year-on-year in May at national level, nine tenths of a percentage point lower than the rate recorded in April, an indicator which in the Canary Islands stood at 4.9 % after falling by 0.6 % compared to April.
The reduction in prices at national level is due to lower fuel prices and the lower rise in food and non-alcoholic beverages, while in the Canary Islands food and non-alcoholic beverages have risen by 13.4 % and the price of housing has fallen, in year-on-year terms, by 7.9 %.
Of the nine tenths of a percentage point decrease in the general inflation rate, six tenths were the result of the 3.7% fall in the transport group due to the drop in fuel prices, while another two tenths were due to the food group, whose rise moderated to 12% year-on-year, almost one point less than in the previous month.
Food inflation has fallen back to the level of a year ago thanks to lower prices for milk, cheese and eggs, as well as lower prices for fish and seafood, and stable prices for bread and cereals.
