The Canary Islands recorded a 2.2% increase in the Consumer Price Index (CPI) in December 2024, compared to the same month in the previous year, continuing an upward trend. This inflation rate aligns with November’s data, according to the final figures released by the National Institute of Statistics (INE).
Key Highlights of the Inflation Report
- Year-on-Year Increase: Prices in the Canary Islands have risen for the second consecutive month, with an annual increase of 2.2%.
- Monthly Growth: Inflation saw a marginal monthly rise of 0.1% in December. Cumulatively, the increase for the year also reached 2.2%.
Sectors with the Most Significant Price Increases

- Housing, Utilities, and Energy:
- This category saw the largest rise, with a 6.3% increase compared to December 2024.
- It encompasses housing costs, water, electricity, gas, and other fuels.
- Alcoholic Beverages and Tobacco:
- Prices rose by 4.1%, although this represents a slight slowdown compared to the previous month (-0.6 percentage points).
- Restaurants and Hotels:
- A 4.1% increase was observed, with little variation from November (-0.1 percentage points).
- Other Goods and Services:
- Prices rose by 3.2%, showing no change in the growth rate compared to the previous month.
Categories with Declining Prices
- Clothing and Footwear:
- This segment experienced the sharpest decline, with prices falling by 2.3%, a drop of 2.4 percentage points compared to November.
National Inflation Trends

At the national level, the CPI rose by 0.5% in December compared to November, bringing the annual inflation rate to 2.8%, a 0.4 percentage point increase.
- Regions with Highest Inflation Rates:
- The Basque Country (3.6%), Balearic Islands (3.4%), and Aragon (3.1%).
- Regions with Lowest Inflation Rates:
- The Canary Islands (2.2%), Castilla-La Mancha (2.5%), and Murcia (2.6%).
Regional Comparisons

All autonomous communities experienced an annual increase in inflation in December compared to November.
- Regions with the Most Significant Monthly Increases:
- Ceuta, Euskadi, and Melilla, each recording a 0.7% to 0.8% rise.
- Regions with the Lowest Monthly Growth:
- Catalonia, Murcia, and the Valencian Community, each seeing a 0.3% to 0.4% increase.
This latest report underscores the varying economic pressures across Spain, with the Canary Islands maintaining one of the lowest inflation rates in the country, despite notable price increases in essential sectors like housing and utilities.