Final data from the National Institute of Statistics (INE) confirms that the consumer price index (CPI) fell in September to 1.5% per yeareight tenths below the August figure. This is the lowest figure recorded since March 2021.
In this decline, the groups that had the most influence were expenses related to transportation —thanks to the drop in the price of fuels and lubricants—, expenses linked to accommodation —mainly, due to the drop in electricity prices—, and expenses linked to leisure and culturenotably the reduction of tourist packages. And of course, falling food prices.
According to the institute, from one year to the next, the annual rate which has decreased the most is that of oils and fatswhich amounts to 1.8%. They also influence, although to a lesser extent, legumes and vegetableswhose price increase was lower than that recorded in September 2023, and fruits, whose price drop was greater than the same month of the previous year.
Price compared to August
As for the monthly variationthe September index was -0.6% compared to the month of August. Regarding this index, the groups that have had the greatest impact on the decline are, once again, fuels and lubricants, electricity and tourist packages. On the other hand, the decline was not greater due to the clothing and footwear sector, which stood at 2.4% due to “price behavior at the start of the autumn-winter season” .
As for the foodthe largest declines compared to August are reflected in the fruitboth fresh and refrigerated, which decreased by 3.4%. Also in the olive oilwhich in September fell by 2.9% – without taking into account the increase in VAT applied at the beginning of October – in non-alcoholic beers, which fell by 2.7%, in “sauces and condiments”, which are became cheaper by 2.3% and in sugar, down by 2.2%.
With drops of less than 2%, we find the breakfast cereals (-1.6%), tea (-1.6%), baby food and prepared meals (-1.5%), jams, honey and jams (-1.4%) and fish and fruit preparations sea (-1.2%).
In contrast, the greatest increase is concentrated in the sheep and goat meatwith an increase of 3.4%; After this group, appear fresh or refrigerated legumes and vegetables, with an increase of 2.7%, fresh fish, with 2.5%, and chocolate, with 2.4%.
