Tenerife Weekly
  • Home
  • About
  • El Diario
  • Diario de Avisos
  • El Dia
  • Europa Press
  • La Laguna
  • El Digital Sur
  • Atlantico
  • Press Releases
  • Essentials
  • Blog
  • Contact
No Result
View All Result
  • Home
  • About
  • El Diario
  • Diario de Avisos
  • El Dia
  • Europa Press
  • La Laguna
  • El Digital Sur
  • Atlantico
  • Press Releases
  • Essentials
  • Blog
  • Contact
No Result
View All Result
Tenerife Weekly
No Result
View All Result
Home La Provincia

CPI Rises in the Canary Islands: CEOE of Tenerife Attributes Increase to Regulatory Costs

March 27, 2024
in La Provincia
Reading Time: 3 mins read
0
CPI Rises in the Canary Islands: CEOE of Tenerife Attributes Increase to Regulatory Costs
3
SHARES
Share on FacebookShare on Twitter


The advance indicator of the CPI reached 3.2% in March for the country as a whole; if this estimate holds true, it will be four tenths higher than the figure recorded in February. In the previous month, inflation had already entered the 2% range, the ECB’s target, but has risen above 3% once again. The CEOE of Tenerife links these data to the impact of ongoing regulatory adjustments. The president of the business association, Pedro Alfonso, states that the increase in wages outside traditional productivity forms – mandated by the Ministry of Labour – and the rise in Social Security contributions are setting a notable upward trend, raising the possibility of a second wave of increases that could counteract efforts to reduce rates.

The underlying forecast, on the other hand, is slightly above the general rate in the third month of the year, at 3.3%. However, this is a decrease of two tenths compared to the previous recorded figure. The increase in the general rate is mainly due to rising electricity and fuel prices, which experienced a decline in March 2023. Conversely, prices of food and non-alcoholic beverages increased as well, but at a slower pace than in the same period last year.

The estimated annual variation rate of underlying inflation (general index excluding raw food and energy products) has decreased. Whereas there was a difference of over half a percentage point between them in the previous month, this month the gap is only a tenth. The CEOE of Tenerife highlights the significant fall in the underlying index. The business association suggests that these data point towards a moderation trend in the CPI across Europe and Spain, potentially paving the way for an expected interest rate reduction by the European Central Bank in June.

Forecasts

[–>

If the forecasts materialize, inflation will see a slight increase, with a convergence of rates not seen for over a year, although still far from the ECB’s target (2%). 2024 began with an inflationary spike caused by the partial withdrawal of fiscal aids, followed by moderation in the second month due to the drop in electricity prices and stable food prices.

[–>

From the business association, experts anticipate that the evolution of this underlying rate will continue on a downward path throughout the year, albeit slowly. The general rate, on the other hand, will be impacted by the “step” effects due to last year’s energy price volatility, as well as variations in the consumer basket, a trend that has already been observed in the first three months of the year: the same factors that pulled the rate down last month have had the opposite effect this month.

Subscribe to continue reading

Related Posts

Wind and Fog Leave Hundreds of Passengers Stranded in Tenerife
La Provincia

Wind and Fog Leave Hundreds of Passengers Stranded in Tenerife

July 6, 2025
Canaries Roll: From Sancheski to Skate
La Provincia

Canaries Roll: From Sancheski to Skate

July 6, 2025
Coque Malla stars in ‘The Threepenny Opera’, new project from ‘Segunda Lectura’ at the Pérez Galdós Theatre.
La Provincia

Coque Malla stars in ‘The Threepenny Opera’, new project from ‘Segunda Lectura’ at the Pérez Galdós Theatre.

July 2, 2025
No Result
View All Result

Click Image to Join Community

Tenerife Forum Community

Previous News

The Well-being of the Most Famous Tree in the Canary Islands

The Well-being of the Most Famous Tree in the Canary Islands

1 year ago
Canarias scores a new decline and closes the week with 287 new cases of Covid

Canarias scores a new decline and closes the week with 287 new cases of Covid

4 years ago
Seven leaders in haute cuisine celebrate 8M in ‘Gastronomy is Feminine’ in Candelaria

Seven leaders in haute cuisine celebrate 8M in ‘Gastronomy is Feminine’ in Candelaria

2 years ago
Tenerife Island Authority assigns 300,000 euros to back professional fishing

Tenerife Island Authority assigns 300,000 euros to back professional fishing

12 months ago
Valle de Guerra celebrates its Livery with a large crowd despite the rain

Valle de Guerra celebrates its Livery with a large crowd despite the rain

9 months ago
The Mascarita Ponte Tacón returns to Puerto de la Cruz today

The Mascarita Ponte Tacón returns to Puerto de la Cruz today

2 years ago
No Result
View All Result

News Highlights

Biography of Saint Benedict of Nursia

Curbelo calls on the Port Authority to reorganise traffic in Los Cristianos amid the congestion.

Santa Cruz to Host the Women’s U20 Basketball Tournament this July

The Great Podcast Night Celebrates Its Fourth Edition in Madrid

The PSOE criticises “lack of political will” to reopen Los Patos beach, closed since 2023

Business leaders do support the Social Councils law that universities oppose.

Trending News

Fepeco and Güímar Explore Solutions for Public Housing
El Dia

Fepeco and Güímar Explore Solutions for Public Housing

by Admin
July 11, 2025
0

The Botanic Hotel & The Oriental Spa Garden Finalises Details for Its Reopening on 15th July

The Botanic Hotel & The Oriental Spa Garden Finalises Details for Its Reopening on 15th July

July 11, 2025
Social Councils Act: a regulation for Canary Islands universities that universities dislike

Social Councils Act: a regulation for Canary Islands universities that universities dislike

July 11, 2025
Biography of Saint Benedict of Nursia

Biography of Saint Benedict of Nursia

July 11, 2025
Curbelo calls on the Port Authority to reorganise traffic in Los Cristianos amid the congestion.

Curbelo calls on the Port Authority to reorganise traffic in Los Cristianos amid the congestion.

July 10, 2025
Tenerife Weekly

© 2025 Tenerife Weekly

Navigate Site

  • Tenerife Forum
  • Tenerife Travel Shop
  • Ask Tenerife
  • Guide
  • Adobe
  • Linkedin
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • About
  • El Diario
  • Diario de Avisos
  • El Dia
  • Europa Press
  • La Laguna
  • El Digital Sur
  • Atlantico
  • Press Releases
  • Essentials
  • Blog
  • Contact

© 2025 Tenerife Weekly