Spain's National Statistics Institute (INE) released data, revealing that inflation in Catalonia dropped to 3.2% in May. This represents a decrease of 0.7 percentage points compared to the previous month. In May, there were slight decreases in the cost of transport, housing, and cultural activities when compared to April. In comparison to other regions in Spain, Catalonia experienced one of the smallest decreases in inflation during May.
Across Spain, inflation in May stood at 3.2%, showing a decrease of 0.9 percentage points from April. This reduction can be attributed to lower costs in food and non-alcoholic beverages, housing, transport, clothing, and footwear.
Main points of INE's report:
• The annual variation rate of the Consumer Price Index (CPI) for the month of May stands at 3.2%, nine tenths lower than the previous month.
• The annual rate of core inflation decreases by five tenths, reaching 6.1%.
• The monthly variation of the general index is 0.0%.
• The Harmonized Index of Consumer Prices (HICP) shows an annual rate of 2.9%, nine tenths lower than the previous month.
Annual evolution of consumer prices:
The annual rate of the general Consumer Price Index (CPI) in May is 3.2%. This rate is nine tenths lower than the previous month.
The groups that stand out for their influence in the decrease in the annual rate are:
• Transport, with a rate of -3.7%, more than four points lower than the previous month. This decrease is due to the drop in prices of fuels and lubricants for personal vehicles compared to the increase in May of the previous year.
• Food and non-alcoholic beverages, with a rate of 12.0%, almost one point lower than the previous month. The decrease in prices of milk, cheese, and eggs has an influence on this behavior. Prices of fish and seafood also decrease, their effect is accentuated because they increased in May 2022. The stability of bread and cereals also has a negative impact, as they grew last year.
It should be noted, although in the opposite direction, the decrease in prices of legumes and vegetables, less than in May of the previous year.
• Clothing and footwear, with a rate of 1.9%, three tenths lower than the previous month. This trend is because the prices of all its components increase less this month than in May 2022.
On the other hand, among the groups with a positive influence, housing stands out:
• Housing, which increases its variation by three tenths, reaching -10.5%. This behavior is due to the fact that electricity prices decrease with less intensity than last year.
The whole INE's data can be found here
https://www.ine.es/en/daco/daco42/daco421/ipc0523_en.pdf
Across Spain, inflation in May stood at 3.2%, showing a decrease of 0.9 percentage points from April. This reduction can be attributed to lower costs in food and non-alcoholic beverages, housing, transport, clothing, and footwear.
Main points of INE's report:
• The annual variation rate of the Consumer Price Index (CPI) for the month of May stands at 3.2%, nine tenths lower than the previous month.
• The annual rate of core inflation decreases by five tenths, reaching 6.1%.
• The monthly variation of the general index is 0.0%.
• The Harmonized Index of Consumer Prices (HICP) shows an annual rate of 2.9%, nine tenths lower than the previous month.
Annual evolution of consumer prices:
The annual rate of the general Consumer Price Index (CPI) in May is 3.2%. This rate is nine tenths lower than the previous month.
The groups that stand out for their influence in the decrease in the annual rate are:
• Transport, with a rate of -3.7%, more than four points lower than the previous month. This decrease is due to the drop in prices of fuels and lubricants for personal vehicles compared to the increase in May of the previous year.
• Food and non-alcoholic beverages, with a rate of 12.0%, almost one point lower than the previous month. The decrease in prices of milk, cheese, and eggs has an influence on this behavior. Prices of fish and seafood also decrease, their effect is accentuated because they increased in May 2022. The stability of bread and cereals also has a negative impact, as they grew last year.
It should be noted, although in the opposite direction, the decrease in prices of legumes and vegetables, less than in May of the previous year.
• Clothing and footwear, with a rate of 1.9%, three tenths lower than the previous month. This trend is because the prices of all its components increase less this month than in May 2022.
On the other hand, among the groups with a positive influence, housing stands out:
• Housing, which increases its variation by three tenths, reaching -10.5%. This behavior is due to the fact that electricity prices decrease with less intensity than last year.
The whole INE's data can be found here
https://www.ine.es/en/daco/daco42/daco421/ipc0523_en.pdf