Restaurant prices in the Canary Islands on the rise, outpacing nationwide trends

The Consumer Price Index (CPI) in the Canary Islands has seen a 7.8% increase in prices within the restaurant industry, surpassing the 7.2% rise nationwide.

According to the latest data from the Consumer Price Index (CPI) for August, which was published this week, the Canary Islands, the Valencian Community, and Andalusia have experienced the highest increases in prices within bars and restaurants over the past year among the autonomous communities.

Specifically, the CPI for the restaurant industry has surged by 7.8% in the Canary Islands, 7.2% in the Valencian Community, and 6.8% in Andalusia. These percentages exceed the average year-on-year increase in the sector, which stands at 6.4%.

Additionally, the autonomous cities of Ceuta (7%) and Melilla (8.2%) also feature among the regions with the highest inflation rates in terms of restaurant prices.

Restaurant prices in the Canary Islands on the rise, outpacing nationwide trends.

In contrast, Extremadura has seen the lowest increase in bar and restaurant prices over the past year at 5.1%, followed by Murcia and the Basque Country, where prices have risen by 5.6%.

Throughout August, prices in bars and restaurants in Spain continued to rise by over 6%, while the overall CPI inflation exhibited an annual trend of 2.6%.

These figures, as per data analyzed by Hostelería de España, demonstrate that restaurant price inflation persists, albeit at a lower rate compared to the overall shopping basket inflation, which registered an annual increase of 10.5%, according to the INE.

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