Inflation is one of the main concerns of Spaniards today. Although the price increase last year was less than in 2022, Spaniards still had to pay high prices for certain products last year.
In December, inflation was 3.1%. This general increase had a direct impact on the price of groceries. However, there are price differences between the different regions. Also, spending by young people is not the same as older people.
This is confirmed by a recent survey by the banking app Fintonic. It has analysed the spending of Spanish consumers on groceries in the past year. As detailed in the report, the Spaniard’s average spending in supermarkets in 2023 was €1,624 on average per year. This is an increase of 3% compared to the previous year, when the average expenditure was €1,577.93.
In addition to this information, the survey has provided other important data on how much Spaniards spend when filling their shopping baskets. As Fintonic has shown, spending is different in some autonomous communities than in others. And there is one region in Spain that stands out with the highest prices.
Groceries most expensive in Navarre
In Navarre, residents spent an average of €2,137.91 on groceries last year. This has made Navarre the most expensive region to buy groceries. Navarre finishes ahead of other regions such as Cantabria (€1,983), the Valencian Community (€1,961.33), Catalonia (€1,956.28) and the Basque Country (€1,927.7). In terms of year-on-year growth, Navarre was the region where prices rose the most from year to year. Groceries prices rose by 11.1% in 2023 compared to the previous year. But prices also rose sharply in the Canary Islands, by 8.4% to be precise. The average spending on groceries per capita rose from €1,254.57 to €1,360.65.
Even so, the Canary Islands remain one of the regions where it costs the least to shop, although it is not the cheapest region in Spain. The inhabitants of Extremadura spend by far the least, followed by those of Melilla, Galicia and Andalusia. This is followed by the Canary Islands.
Spending on groceries by age group
In the report, Fintonic also showed the differences in spending on groceries by age group. Young people between the ages of 18 and 24 spend the least: around €577 per year. This is much lower than other age groups, such as 45-54-year-olds, for example, who spent an average of €2,302.45 in 2023.
These products rose the most in price
The products that increased the most over the course of last year were olive oil (66.7%), sugar (65%), condensed milk (61.4%), carrots (56.1%) and frozen French fries (49.7%). Other products affected by inflation were rice (17.1%), legumes and vegetables (+16.8%) and sweets (+16.6%).
Also read: These are the best supermarkets in Spain
