A closer look at Spain’s economic landscape shifts, core factors, and local impacts.
In a recent development, Spain's inflation rate experienced a downturn in November, settling at 3.2%, according to preliminary data released by Spain's statistics institute (INE). The decrease in consumer prices, by 0.3 percentage points, is attributed to reduced fuel and electricity costs. Despite slight increases, tourist packages and food costs remain comparatively lower than in November 2022.
While electricity prices also witnessed a decrease, it was less pronounced than the previous year. Core inflation, excluding volatile prices, saw a significant drop of 0.7 percentage points, reaching 4.5%. The definitive inflation data for November, which will include figures for Catalonia, is slated for publication in mid-December. In October, Catalonia reported an inflation rate of 3.4%.
The economic landscape reflects notable shifts in the prices of basic food items like olive oil, milk, and eggs, surging over thirty percent in just two years. This surge is attributed to various factors, including the ongoing inflationary trends in Europe.
The repercussions of these price increases are palpable among Barcelona residents and farmers in Catalonia, prompting adjustments in their daily routines and shopping habits.
While electricity prices also witnessed a decrease, it was less pronounced than the previous year. Core inflation, excluding volatile prices, saw a significant drop of 0.7 percentage points, reaching 4.5%. The definitive inflation data for November, which will include figures for Catalonia, is slated for publication in mid-December. In October, Catalonia reported an inflation rate of 3.4%.
The economic landscape reflects notable shifts in the prices of basic food items like olive oil, milk, and eggs, surging over thirty percent in just two years. This surge is attributed to various factors, including the ongoing inflationary trends in Europe.
The repercussions of these price increases are palpable among Barcelona residents and farmers in Catalonia, prompting adjustments in their daily routines and shopping habits.
Source: https://www.catalannews.com/