December inflation rises again after November record

by Lorraine Williamson
November inflation

MADRID – The upward trend of inflation in Spain continues. After a record month in November with inflation of 5.6%, a month later another 1.7 points were added. 

This is the highest inflation level since March 1992, based on data from the Spanish statistical office INE. Last November, the CPI reached its all-time high in three decades after rising 5.5%. 

Omicron variant

Prices are now rising for the tenth month in a row against the backdrop of the rise of the omicron variant. This causes a record number of infections and a reduction in mobility. Consequently, absenteeism is unprecedentedly high, which leads to reduced services in many places. 

The determining factor for the increased prices is again the high price of energy. Excluding the price for energy, inflation shows a very different picture and rises much less than general inflation: 2.1%. Four tenths more than in November. However, here too a maximum level applies since March 2013. 

Cogesa Expats

On a monthly basis, inflation is up 1.3% compared to November when an increase of 0.3% was registered. That is the fifth consecutive monthly increase and the largest in a December month since 1983. 

Also read: Spain prices rise again to peak in November 

The final CPI figures for 2021 will be published on 14 January. 

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