Balearic inflation spiked in August.

Balearic inflation spiked in August. | Majorca Daily Bulletin reporter

Humphrey CarterPalma13/09/2022 10:28
TW
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Prices soared in the Balearics in August and now exceed the Spanish average.
The Balearic CPI Consumer Price Index climbed to 10.7 % while the Spanish average has fallen to 10.5 %, according to the National Statistics Institute (INE).
Inflation in the Balearics was below the Spanish average.

The increase in the CPI in the Balearics is mainly linked to the rise in house prices, which have shot up by 22.9 %.
The costs of food and non-alcoholic beverages have also had an influence, rising by 13.2 %, as have hotels, cafés and restaurants, which have risen by 12.1 %, and transport, by 11.4 %.

Year-on-year increases were also recorded for household goods (6.9 %), alcoholic beverages and tobacco (5.3 %), clothing and footwear (5.1 %), leisure and culture (4.8 %), education (2.5 %) and medicine (1 %). On the other hand, communications fell by -2.2 %.

Average Spanish inflation fell in August thanks to transport costs, with a rate of 11.5%, four and a half points lower than the previous month, due to lower fuel and lubricants prices.

Core inflation, which does not include fresh food or energy, is at 6.4 %, three tenths of a percentage point higher than that recorded in July.