In September, the Consumer Price Index (CPI) in the Canary Islands rose by 4.3 percent compared to the same month last year, marking an increase of eight tenths of a percentage point from the previous month. This data, provided by the National Statistics Institute (INE), shows a reversal in the year-on-year rate, which had fallen in the previous month. On a monthly basis, inflation in the Canary Islands increased by 0.3 percent, and the overall rise for the year so far stands at 3.3 percent.
The sectors where prices saw the most significant increases in September compared to the previous year in the Canary Islands were food and non-alcoholic beverages, rising by 13.5 percent (+0.9 points compared to the previous month); restaurants and hotels, up 7.5 percent (-0.2 points); alcoholic beverages and tobacco, increasing by 5.4 percent (-0.2 points); and communications, which saw a 4.3 percent increase (+0 points).
In contrast, the sectors where prices fell the most in year-on-year terms were housing, water, electricity, gas, and other fuels, with a decrease of -10.2 percent (+4.7 points compared to the previous month); and clothing and footwear, which saw a decrease of -1.5 percent (-1.6 points). These were the only two categories that experienced a decrease in prices.
IN SPAIN AS A WHOLE CPI INCREASED BY 3.5%
On a national level, the CPI in Spain increased by 0.2 percent in September compared to the previous month, raising its year-on-year rate by 0.4 percentage points to 3.5 percent. This marks the third consecutive month of rising inflation, with the year-on-year rate exceeding 3 percent in September. The Ministry of Economic Affairs attributes this increase to the base effect of electricity and fuel prices and highlights Spain’s position as one of the countries with the lowest inflation in the eurozone.
Core inflation, which excludes unprocessed food and energy products, decreased by three tenths of a percentage point in September to 5.8 percent, placing it 2.3 points above the general CPI. In the case of food and non-alcoholic beverages, their year-on-year rate remained unchanged in September, with a rise of 10.5 percent. In monthly terms, the CPI recorded a 0.2 percent increase, mainly driven by higher fuel, electricity, and food prices, which rose by 0.5 percent due to increased costs of oils and fats and vegetables.
MELILLA, CEUTA AND THE CANARY ISLANDS ARE REGIONS WHERE THE CPI ROSE THE MOST
Among the Spain’s autonomous communities, Melilla (5.3 percent), Ceuta (4.6 percent), and the Canary Islands (4.3 percent) recorded the highest CPI rates at the end of September. In contrast, Aragon (2.9 percent), Extremadura (3.1 percent), and La Rioja (3.2 percent) had the lowest rates. Prices increased in all autonomous communities compared to the same month the previous year, with the most significant growth observed in Extremadura, Castilla-La Mancha, and Galicia, while Navarre, Asturias, and Ceuta saw the smallest increases.