Prices in Spain increased by 7.3% in October, compared to the same month in 2021, according to official data on Tuesday that confirm the moderation of inflation, despite the biggest rise in food prices since 1994.
Inflation of 7.3% in October confirmed this Tuesday by the National Institute of Statistics (INE) of Spain is 1.6 points lower than that of September (8.9%).
The drop in electricity and gas prices contributed to this moderation in inflation, compared to the rise they had experienced in October 2021, according to the Spanish INE.
Clothing and footwear also influenced this inflation behavior in October, since the new collections reached stores with lower price increases than in the same month of 2021.
At the other extreme are food and non-alcoholic beverages, which “most influenced” the increase in inflation in October, according to the Spanish INE.
In this case, there was a price increase of 15.4%, compared to October 2021, the largest increase since January 1994.
According to the INE of Spain, in this case the increases in vegetables, milk, cheese, eggs and meat stand out.
Excluding the prices of unprocessed food and energy (core inflation), the price variation in Spain in October was 6.2%, two tenths less than in August.
Compared to September, prices in Spain increased by 0.3% in October.
October is thus the third consecutive month of moderation of inflation in Spain, which was 10.5% in August and 8.9% in September.
Source: TSF
