Inflation changing consumer habits in the Balearics

The rise in prices is affecting staple foods - such as meat, eggs and milk - and in some products it is even exceeding the national average.

The annual variation of the Consumer Price Index (CPI) in June was 9.7% in the Balearics, below the national average of 10.2%.

With regards to food, it reached 11.1% in the Balearics and 12.9% in Spain as a whole.
The products which rose the most in price were oils (32.9 %) and eggs (20.1 %), although there were also rises that exceeded the national average, such as beef and lamb (14 % and 19.1 %, respectively); canned fruit and nuts (7.1 %); water, soft drinks and juices (7.8 %) and alcoholic beverages (6.1 %).

Spain's 12-month industrial prices increase slowed down for a third month in a row in June as energy inflation slowed again, the National Statistics Institute (INE) said today.

Spanish industrial prices rose by 43.2% in June in the 12 months through June, slightly down from 43.6% for the period through May. Overall industrial prices rose 1.9% in June, INE reported.

The industrial production price 12-month inflation peaked at an all-time record of 47% in the period through March.

Companies tend to pass on industrial price rises to customers, ultimately fuelling inflation, which in Spain as in many other countries is running at its fastest pace in three decades.

Although energy prices eased as electricity generation, transmission and distribution prices rose at a slower rate than in the same month a year ago, they still increased a solid 112% in the 12 months to June, the data showed.

Excluding energy prices, annual industrial price inflation stood at 15.2% in June, slightly down from 15.3% a month earlier, INE said.

In March, EU leaders gave Spain special permission to manage its own electricity prices, which could potentially limit the massive increase in energy prices.