Inflation is moderating, but food prices continue to rise.

BarcelonaThe cost of living in Spain continued to rise this November, although at a more moderate pace than the previous monthAccording to preliminary data from the Consumer Price Index (CPI, the indicator that measures the cost of living for families) published this Friday by the National Statistics Institute (INE), food and, to a lesser extent, leisure and cultural services have been the items that have become most expensive this month, which was also marked by cheaper electricity. The CPI thus increased by 0.2% this month compared to October, a more moderate growth rate than the 0.7% recorded between September and last month. If prices are compared to November 2024, the increase has been 3%, one-tenth of a percentage point less than the year-on-year rate for October. Although lower, the annual increase of 3% is among the highest of the last two years and one percentage point above the 2% target set by the European Central Bank in the long term.

As for core inflation (which excludes more volatile items such as fresh food and energy), it will close November with an annual increase of 2.6%, the highest level since December of last year.

Food inflation remains unchanged.

For months now, food has been one of the items driving up the cost of living for families, especially fresh produce. Recently, the avian flu outbreak in Spain has affected the price of eggs, which It has become significantly more expensive.A situation similar to that experienced approximately two years ago with olive oil, whose price skyrocketed due to the drought in Catalonia and other producing regions of Spain. In fact, between 2020 and last month, the cost of food The price has increased by an average of more than 700 euros per person per year in Catalonia.

Leisure and cultural services have also affected the annual rise in the CPI, as their prices are moderating at a slower pace than last month. At the other end of the spectrum, electricity bills had a negative effect on inflation following the October increase.

The data published this Friday by the INE (National Statistics Institute) is a first preview. The state statistical agency will release the final figures for this month on December 12, broken down by autonomous community and by product. Last month, the data for Catalonia showed a slightly more moderate increase in the cost of living than the Spanish average.