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Date Published: 15/09/2021
ARCHIVED - Consumer prices in Murcia now 3.2 per cent higher than a year ago
Inflation reached the highest level in Spain for nine years at the end of August
With rising petrol, diesel and electricity prices throughout Spain there is no doubt that the average consumer has felt the pinch in recent months, and the latest Consumer Price Index (CPI) stood at 3.3 per cent in August, the highest figure recorded since October 2012. The rise in inflation has mainly been caused by the record-breaking soar in electricity costs, which pushed the CPI four tenths of a percentage point above the figure recorded in July.
The CPI is the most widely used tool for measuring inflation and deflation and works by evaluating the average change in price of a range of goods and services over a defined period of time.
According to the National Institute of Statistics (INE), if the Spanish government hadn’t decided to reduce the VAT on electricity from 21 to 10 per cent or suspend the 7 per cent electricity generation tax, the inflation figure would actually have skyrocketed to 3.6 per cent – a high last seen in April 2011.
In the Murcia region the inter-annual Consumer Price Index (CPI) rose to 3.2 per cent in August, increasing by 0.6 per cent during August, the second highest rate in all of Spain except for Asturias which registered a rise of 0.7 per cent.
Since the year began, prices have increased by 1.9 per cent in the region.
For Murcian families prices have risen across the board in all the same groups as the rest of the country, the only exceptions being clothing and footwear which descended by 0.6 per cent due principally to the summer sales and communications and teaching which remained the same.
Since the year began, prices have increased by 1.9 per cent in the region.
For Murcian families prices have risen across the board in all the same groups as the rest of the country, the only exceptions being clothing and footwear which descended by 0.6 per cent due principally to the summer sales and communications and teaching which remained the same.
Regarding the annual variation rate of core inflation, which is a general index that excludes non-processed food and energy products, an increase of one tenth of a percentage point was reported, which is more than two and a half points below the General CPI. This is the highest difference between the two rates in 35 years.
Image: Archive. Street market in Cartagena Ayto. Cartagena
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