Inflation Drops to 4.6% in the Canary Islands, Still the Highest in Spain

Canary Islands

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Inflation in Spain moderated to 3.3% year-on-year in March, 2.7 points below the February rate, due to the drop in electricity and fuel prices compared to the strong increases registered in March 2022 , after the start of the war in Ukraine, and the Canary Islands registered the smallest decrease, of 2.2 points, to stand at 4.6%.

The prices of food and non-alcoholic beverages registered a year-on-year rise of 17% in the archipelago , while those of housing fell by 15.3% .

Hotels, cafes and restaurants , with an annual increase of 9.4%; household goods, with a rise of 7.2%, and leisure and culture, with a rise of 5.7%, were the most inflationary items on the islands.

The consumer price index (CPI) rose last March in all the autonomous communities, notably in the Basque Country (0.6%) and Asturias (0.5%) and to a lesser extent in Navarra and Aragón ( 0.1%), although the highest annual inflation corresponds to the Canary Islands.

Compared to March 2022, prices have risen more, in addition to the Canary Islands and the two autonomous cities, in Andalusia (3.9%), Murcia (3.8%), Asturias and La Rioja (3.6% ), Navarra (3.5%), the Balearic Islands, Castilla y León, Castilla-La Mancha and Galicia (3.4%) and the Basque Country (3.3%).

Less than the average (3.3% ) inflation rose in Cantabria (3.2%), Catalonia (3.1%), the Valencian Community (3.0%), Extremadura (2.9%), Aragón ( 2.7%) and Madrid (2.6%) .