Spain hits HIGHEST Consumer Price Index since 1984 in month of July

Spain hits HIGHEST Consumer Price Index since 1984 in month of July Credit: Maxx-Studio/Shutterstock.com

Spain’s annual rate of the general Consumer Price Index (CPI) for the month of July is 10.8 per cent, the same as that announced by the INE on July 29, as reported on Friday, August 12.

The Consumer Price Index rate for Spain in July is six tenths of a percentage point higher than that recorded the previous month, and the highest since September 1984.

The groups that stand out for their influence on the increase in the annual rate are:

Housing, which increased its variation by four points, to 23 per cent, due to electricity prices rising when compared with the drop recorded in July 2021.

The rise in gas prices also has an influence, although to a lesser extent, and is also higher than last year.

Clothing and footwear, whose annual variation of 5 per cent, more than two and a half points higher than that recorded in June, is due to the fact that their prices fell less this July than in July last year.

Food and non-alcoholic beverages, whose rate was 13.5 per cent, six tenths of a percentage point higher in June and the highest since the beginning of the series in January 1994.

The increases in the prices of meat and milk, cheese and eggs, compared with the stability of the previous year, of bread and cereals, higher this month than in 2021, and of pulses and vegetables, which fell in July last year, are particularly noticeable.

The annual rate of the CPI increased in July with respect to June in all Spain’s autonomous communities.

The largest increases occurred in Comunidad de Navarra and La Rioja, with a rise of 1.2 and 1.1 points respectively, and in the Canary Islands, Extremadura and the Basque Country, with increases of 0.9 points in all of them.

The smallest increases were in Comunidad de Madrid, with an increase of 0.1 points, and in Aragón, Castilla y León and Galicia, with increases of 0.4 points.

The news follows reports of Spain seeing a price increase of 10.2 per cent in the month of June according to the National Statistic Institute on, Wednesday, July 13.


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Written by

Joshua Manning

Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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