Inflation ends the year with a slight moderation compared to 2024

The cost of living in Spain moderated in December thanks to lower fuel prices, according to preliminary data from the Consumer Price Index (CPI, the indicator that measures price changes) released Tuesday by the National Statistics Institute (INE). Thus, inflation across the country ended the year slightly below the projected growth rate for 2024. Specifically, prices for consumer goods and services rose by 2.9% this month in Spain compared to the same month last year, one-tenth of a percentage point less than the previous year. the annual growth recorded in NovemberCompared to the previous month, the cost of living rose by 0.3% in December, one-tenth of a percentage point higher than the previous month's rate. Fuel prices and, to a lesser extent, leisure product prices explain the slight drop in the CPI compared to a year ago. However, at the other end of the spectrum, food prices have risen at a faster rate than a year ago. The increase in food costs is typical in December, when there is an increase in demand and, consequently, in prices coinciding with the Christmas holidays. Inflation, slightly below 2024

Thus, the annual inflation rate for 2025 has averaged 2.7%, a slight decrease of one-tenth of a percentage point compared to the 2.8% of 2024. This figure remains above the 2% target set by the European Central Bank for the medium and long term. However, prices for consumer goods and services continue the downward trend of recent years. The data published this Tuesday by the INE (National Statistics Institute) are provisional. The state statistical agency will publish its final figures, also broken down by autonomous communities, on January 15th. It should also be noted that throughout most of this year, Catalonia has maintained a slower rate of price growth than the national average, so the average rate in Catalonia is expected to be lower than that of Spain as a whole.