MADRID – The price increase in November was two-tenths compared to October. This is the level of the harvest in 29 years. And is due to the rise in food prices and, to a lesser extent, petrol prices. This was reported by the National Institute of Statistics in a report published on Monday
INE says that the rise in food prices compared to 2020 is particularly striking in the annual behaviour of the CPI. This applies to a lesser extent to the price increase of fuel and lubricants for personal vehicles.
The statistical office, on the other hand, points to a decrease in electricity prices in November this year compared to the same month last year.
Core inflation at 1.7%
The INE includes an estimate of core inflation (excluding unprocessed foods or energy products) in the CPI data. It rose by three tenths to 1.7% in November. That’s nearly four points lower than the overall CPI percentage.
On a monthly basis, the CPI recorded its fourth consecutive recovery, rising 0.4% in November, 1.4 points lower than the rise in October, and the lowest rise since July last year.
The INE publishes the final CPI data for November on December 15.
Parliamentary questions PP
As a result of this price increase, the PP political party has submitted a request to ask questions to Minister Calviño of Economy. She has to explain the consequences of the ‘high’ inflation for society. “These are the highest price levels in 30 years that also appear to be persistent as the gap around the ninth consecutive rise in inflation,” the PP said in its request.
Minister must tell what measures she will take
The main opposition party wants the First Vice President and Minister of Economic Affairs and Digital Transformation to “explain how this high inflation is hurting families, the self-employed and businesses”. In addition, the party wants to hear details about “the measures it will take” to mitigate its effects.