The Consumer Price Index (CPI) in the Canary Islands continues to climb, rising 1.5% in June compared to the previous month, while the year-on-year figure rises to 8.5%, according to the final data published this morning (Wednesday) by the INE (National Statistics Institute).
The monthly increase in prices in the archipelago is led by an increase in transport costs (+2.9%), housing (+2.5%), as well as leisure and cultural activities (+2.2%), and food and non-alcoholic beverages (+1.5%).
In addition, in the last year, transport has increased by 13.9%, followed by housing (+13.4%) and food and non-alcoholic beverages (+13.3%), with are the sectors that have seen the biggest increases.
Nationally, the CPI rose 1.9% in June compared to the previous month, and its year-on-year rate shot up 1.5 points, to 10.2%, its highest level since April 1985.
The INE confirms that this data was consolidated at the end of last month, although it has raised the anticipated monthly increase by a tenth, from 1.8% to 1.9%, a rate more than one point higher than that of the previous month, and its highest rise in June since 1977.
With the rebound in June, inflation has increased for two consecutive months higher than its inter-annual rate, after it dropped 1.5 points to 8.3% in April Later, in May it climbed to 8.7%, and in June it exceeded the feared double digits: 10.2%. This figure for June is four-tenths higher than the peak reached in March of 9.8%.
According to the INE, the rise in the year-on-year CPI to 10.2% in June is mainly due to increases in fuel prices, fuel for heating, electricity, restaurants and hotels, and food.
The latter registered an inter-annual increase of 12.9% in June, a rate almost two points higher than that of May and the highest since the beginning of the records, in January 1994. Particularly noteworthy is the rise in the price of fruit and vegetables, meat, bread, cereals and milk, cheese and eggs.
The rise in fuel prices took the inter-annual rate of the transport sector to 19.2%, more than four points above that registered in May, while restaurant prices caused the interannual rate for hospitality in June to be 7.2%, nine-tenths more than in May.
Likewise, the inter-annual rate for the housing group rose 1.5 points in June, to 19%, due to the higher cost of electricity and fuel for heating.
Without taking into account the reduction of the special tax on electricity and the variations in other taxes, the inter-annual CPI reached a peak of 11.1% in June, nine-tenths above the general rate of 10.2%. This is reflected in the CPI at constant taxes that the INE also publishes within the framework of this statistic.
In the last year, heating, lighting, and water have become 35% more expensive; oils and fats have raised their prices by 37%; eggs are 23.9% more expensive, and personal transport costs 19.7% more due to the higher cost of fuel. In addition, many foods recorded double-digit increases in their prices, such as milk (+20.4%) and fresh fruits (+19.3%).
