SANTA CRUZ DE TENERIFE / MADRID, December 15 (EUROPA PRESS) –
The Canary Islands was the autonomous community in which prices grew the most in November with a rise of four tenths in such a way that the Consumer Price Index (CPI) climbed to 4.6% in annual rate, according to data from the INE made public this Wednesday.
The prices that grew the most that month in the islands were clothing and footwear (+ 3.6%) and household goods (+ 0.9%) while they fell 2.1% in housing.
In Spain, the Consumer Price Index (CPI) rose by 0.3% in November compared to the previous month and raised its interannual rate to 5.5%, one tenth above the October rate and its highest level high at 29 years.
The interannual rate of the CPI registered in November (5.5%) is one tenth lower than the one advanced at the end of last month by the INE (5.6%). In the case of the monthly rate (0.3%), the final data is also one tenth less than that reported by Statistics (0.4%).
With the interannual data for November, the highest since September 1992, the CPI chains its eleventh consecutive positive rate.
This 5.5% rate is also used to calculate how much contributory pensions will rise in 2022. They will do so by around 2.5% due to the new revaluation formula included in the pension reform bill, in the which takes into account the twelve-month average year-on-year CPI (from December of the year prior to November of the current year). For their part, the minimum and non-contributory pensions will increase by 3% next year.
According to Statistics, in the inter-annual behavior of the CPI for November, the rise in the prices of food, fuel and lubricants for personal transport and catering stands out, as well as the fact that the prices of accommodation services fell more in November 2020 than they have this year.
Specifically, the food group increased its interannual rate in November by more than 1.5 points, to 3.3%, due to the rise in the price of meat and because the price of fruits fell more in November of last year than this year.
For its part, the transportation group increased its rate by more than one point, to 13.5%, due to the higher cost of gasoline for personal transportation, while the group of hotels, cafes and restaurants registered an interannual rate of 2.5%, five tenths higher than that of October, due to the rise in prices of restaurants and the evolution of the prices of accommodation services.
On the other hand, the housing group cut its interannual rate by almost four points in November, to 16.8%, due to the drop in electricity prices, compared to the rebound registered in 2020. Despite this, electricity was switched off. it has become more expensive in the last year by 46.7% including the tax reductions applied to the electricity bill. Discounting these tax cuts, the year-on-year rise in the price of electricity would be 67.8%.
In fact, without taking into account the reduction of the special tax on electricity and the variations on other taxes, the interannual CPI would reach 6.2% in November, seven tenths more than the general rate of 5.5%. This is reflected in the CPI at constant taxes that the INE also publishes within the framework of these statistics.
THE UNDERLYING, IN MAXIMUM SINCE THE SUMMER OF 2013
Core inflation (excluding non-processed food and energy products) rose three tenths in November, to 1.7%, its highest value since July 2013. Thus, core inflation is almost four points below the general index .
In the penultimate month of 2021, the Harmonized Consumer Price Index (HICP) increased its interannual rate by one tenth, to 5.5%, while it rose by 0.2% in the monthly rate.
GASOLINES, FOOD AND CLOTHES AND FOOTWEARS TAKE THE MONTHLY CPI
In monthly rate (November over October), the CPI recorded its fourth consecutive rebound, rising 0.3% in November, although it is the most moderate of that period.
This increase in prices in the month was contributed by the increase in price of clothing and footwear by 4.7%; of gasoline; of bank and postal commissions (+ 10.6%), and of food, especially sheep and goat meat (+ 6.9%) and, to a lesser extent, fish and shellfish (+1.2 %); milk, cheese and eggs (+ 0.9%); legumes and vegetables (+ 0.7%), and bread and cereals (+ 0.6%).
In contrast, the housing group cut its monthly rate by 2% as electricity prices fell 6.8% compared to the previous month. Also noteworthy is the 7% drop in the prices of national tourist packages in relation to the price they had in October.
BUTANE AND DIESEL UP MORE THAN 30% IN THE LAST YEAR
In the last year (November 2021 over November 2020), what has risen the most in price have been liquid fuels (+ 62.7%); electricity (+ 46.7%); butane and propane (+ 33.6%); diesel (+ 32.8%); other oils (+ 32.2%), and gasoline (+ 29.4%).
On the contrary, what has become cheaper since November 2020 are tolls and parking (-22.5%); mobile phone equipment (-5.3%); other computer media (-3.4%); grape wine (-2.1%); maritime passenger transport (-2%), and second-hand cars (-1.9%).
ALL COMMUNITIES, AT POSITIVE RATES
The annual rate of the CPI rose in November in 14 autonomous communities, remained in the Valencian Community and La Rioja and fell in Asturias, with a decline of one tenth. The largest rise in the annual rate, of four tenths, was experienced by the Canary Islands.
At the end of November, all the communities had positive interannual rates. The highest rates correspond to Castilla-La Mancha (6.6%), Castilla y León (6.2%) and Aragon (6.1%).
In contrast, the Communities with the most moderate year-on-year price increases are the Canary Islands, with a rate of 4.6%; Basque Country (5.1%); Asturias (5.2% in both cases) and Madrid, Murcia and Catalonia, all of them with a 5.3% rate.