The Canary Islands recorded a year-on-year inflation rate of 1.5% in May, one of the lowest increases in the entire country, according to data released yesterday by the National Statistics Institute (INE). This figure places the archipelago just behind the Balearic Islands in terms of moderation in price growth, with the national average standing at 2%.
However, a closer look at specific products in the basic shopping basket reveals significant increases in the cost of essential items over the past year.
Top 3 Products with the Sharpest Price Increases
- Eggs:
Prices surged by 16% compared to May 2024, making them the most affected item in the basket. - Coffee and Cocoa:
A combined category that rose by 14%, driven by ongoing international supply chain disruptions and rising raw material costs. - Fresh Fruit:
Consumers paid 12.6% more than they did a year ago, reflecting both local production challenges and broader market trends.
Close behind were beef prices, which saw a 10.5% increase, further straining household food budgets.
Biggest Drop: Cooking Oil
In contrast to these hikes, cooking oil experienced a notable price decrease of nearly 33% year-on-year. This sharp decline comes after record highs in 2023 and offers some relief to household economies.
Other Key Sectors: Electricity and Clothing
Outside the food category, the cost of electricity rose by 7.1%, reflecting fluctuations in energy markets.
Meanwhile, clothing prices overall declined, although footwear became 4.6% more expensive compared to May of last year.
Regional Breakdown by Province
- Tenerife: Prices rose by 1.5% over the year.
- Las Palmas: A slightly higher increase of 1.6% was recorded.
If we focus solely on the first five months of 2025, the CPI rose by 0.8% in Tenerife and 1.2% in Las Palmas, suggesting a slightly faster pace of inflation in the eastern province.
Monthly Variation
Looking at the month-to-month change, prices in the Canary Islands actually fell by 0.1% in May, whereas the national average showed a 0.1% increase, reinforcing the archipelago’s trend of relative price stability in recent months.
