Inflation is again at highs since 2023 due to the increase in fuels
The cost of living for Catalan families increased by 4.5% annually in September
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BarcelonaThe cost of living for families continues to rise due to the increase in energy prices—particularly fuels—and has reached its highest level since February 2023 for the second consecutive month. Specifically, in September, the prices of the set of consumer goods and services in Catalonia soared by 4.5% compared to the same month a year ago, according to the Consumer Price Index (CPI) data published this Wednesday by the National Statistics Institute (INE).
Compared to August, price growth in Catalonia is 0.1%, two tenths of a percentage point less than the increase recorded in Spain. Nationwide, annual inflation stood at 4.9%, six tenths more than those recorded during the previous month, just as the INE had already advanced two weeks ago.
Annual CPI increases above 4% in both Catalonia and the country as a whole are more than double the 2% annual target set by the European Central Bank for the medium and long term. They also place the Catalan and Spanish inflation rates above the European average and the rest of the major economies in the eurozone, such as Germany, Italy, or France, which in September recorded price increases between 3% and 4%.
Furthermore, core inflation, which does not take into account the most volatile elements such as energy prices, has risen by two tenths of a percentage point both in Catalonia, to 3%, and nationwide, to 3.1%. The INE points to the prices of recreational activities, sports, and culture, as well as transport, as the main factors behind the price increases.
Energy punishes pockets
The rise in energy costs has been noted in the bills of Catalan households. Thus, on average, the prices of electricity, water, and natural gas were 13% more expensive in September than a year ago and 2.4% higher than last August.
Despite this, fuels are the element that has grown the most within the entire consumption basket of families: in one year, the price of gasoline and diesel has risen by a remarkable 24.4% in Catalonia. Between August and September, the increase was 4.8%, according to INE data.
