The consumer price index (CPI) increased in October to 1.8% year-on-year, three-tenths higher than the previous month, due to the increase in the cost of electricity, gas and fuels and lubricants, while food and beverages did not increase. drinks increased by a tenth, up 1.9%.
The National Institute of Statistics (INE) confirmed on Thursday the data put forward two weeks ago, as well as the underlying inflation rate (without energy or unprocessed food products), which stood at 2, 5% over one year, or a tenth more. that of September.
The group that stood out the most for its influence on the increase in the annual rate is that of housing, with an annual variation of 4.2%, 1.3 points above that of last month, due to the increase in electricity and gas prices compared to last year. the decrease during the same month of 2023.
The transportation group also pushed the CPI higher, as although it was in negative territory, the rate increased by nine-tenths due to the increase in the cost of fuels and lubricants for personal vehicles, compared to the decline October of the previous year.
Food and non-alcoholic beverages increased by a tenth in October, reaching the rate of 1.9%, an increase that coincides with the return of the application of VAT on basic foods, initially at 2% until in December, then move to the super-reduced rate. rate of 4%.
Chocolate, which rises the most
Among the components of the basket, chocolate increased the most, 21.2%, followed by fruit juices (14.8%), sheep and goat meat (11.1%), cocoa and chocolate powder (10.1%) and potatoes (8.8%).
Foods that moved into negative territory were sugar, down 4.4%; other edible oils, 4.2%; pizzas and quiches, 4%; fresh fruit, 3.7%; and other cereal-based products, with a drop in the interannual rate of 3.2%.
Olive oil is 4.2% more expensive than a year ago, 163% more than since January 2021, and its price increased by 0.1% compared to September, breaking the trend of decrease in the monthly price of the last five months.
Leaving aside the food sector, the largest increases in October compared to the same month of the previous year were recorded in passenger maritime transport, with an increase of 40.2%; jewelry and costume jewelry, 15.5%; and national tourist packages, 15.1%.
At the opposite extreme, the largest declines were recorded in liquid fuels, with a reduction of 22.3%; diesel, down 15.7%; mobile telephone equipment, 11.8% less; gasoline, with a drop of 9.5%; and personal computers, with a drop of 5.7%.
Monthly inflation was 0.6%
In a monthly comparison, consumer prices increased by 0.6% compared to September – their largest monthly increase since October 2021 – and the groups with the greatest positive impact were clothing and footwear, due of the increase in prices at the start of the season, and food and alcoholic beverages, due to the increase in the price of fruits, legumes and vegetables.
The prices that increased the most in October were other clothing items (15.2%) and women’s clothing (9.7%), men’s clothing (9.3%) and children’s clothing (9.2%). %), while hotels fell the most, 5.9%.
The CPI recorded positive annual rates in October in all autonomous communities, with the highest rates in the Basque Country (2.3%) and Aragon (2.2%) and the lowest in Castile-La Mancha (1.4%).
In October, the annual rate of change of the IPCA stood at 1.8%, a tenth more than that recorded the previous month. The monthly variation was 0.4%.
