08 Jan
last figures released by INE

The annual variation rate of the CPI in November was 1.7%

The National Statistics Institute (INE in Spanish) has just released the last figures corresponding to the Consumer Price Index (CPI).

Main results

– The annual variation rate of the CPI in November was 1.7%, six tenths of a point lower than that registered in the previous month.

– The annual change of core inflation decreased one tenth, reaching 0.9%.

– The monthly rate of the overall index was -0.1%.

– The annual rate of the Harmonised Index of Consumer Prices (HICP) stood at 1.7%, thereby decreasing six tenths as compared with October.

Annual evolution of consumer prices

The annual rate of the overall Consumer Price Index (CPI) in November was 1.7%, six tenths lower than that registered in the previous month.

The groups with the most negative contribution to the annual rate were:

– Transport, with a variation of 3.3%, almost two and a half points below that of the previous month, as a result of the fall in the prices of fuels and lubricants this month, compared with the rise recorded in November 2017.

Another factor, although to a lesser extent, was the fall in the prices of air transport, which increased in the same month of the previous year.

– Housing, whose annual variation decreased by more than one point and stood at 2.8%, due to the decreases in the prices of electricity and, to a lesser extent, of heating oil, as compared with the increases of the previous year.

– Food and non-alcoholic beverages, which registered a rate of 1.4%, three tenths lower than in October. Of particular note in this behaviour was the decline in the prices of Fruit, which was higher this month than in 2017, and of Oils and fats, which increased in November last year.

It should also be noted, although in the opposite direction, the increase in the prices of vegetables compared to the decline recorded in November 2017.

– Recreation and culture, whose annual rate dropped five tenths, to -0.5%, due to the fact that prices of package holidays decreased this month more than the previous year.

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