Inflation has remained stable this October thanks to lower fuel prices. In addition, the price of food has moderated to 9.5%, one point less than the previous month, which is good news.
However, and as reflected in the latest report from the National Institute of Statistics (INE), olive oil continues to become more expensive and last month it rose by more than 73%.
The moderation in food prices – except for some products such as olive oil – is mostly due to the fact that legumes and vegetables, milk, eggs and cheese, meat and fruits have become less expensive than in October of last year.
The Ministry of Economic Affairs has insisted that economic policy measures “have allowed Spain to maintain in the last year one of the lowest inflation rates and highest economic growth in the euro zone.”
In a statement, they add that this situation “has favored greater competitiveness of Spanish companies and the gain in purchasing power of salaries.”
The INE details that the prices of food and non-alcoholic beverages had been growing at double-digit rates for 18 months. While gas and electricity are rising, gasoline and food are falling.
But in some foods the increases continue. Although oil is the most notable, with 73.5%, confectionery products (17%), rice (16.6%), and fruit and vegetable juices (16.1%) also increase. ).
Certain foods, also, continue with significant increases, such as pork (13.8%), potatoes (12%), sugar (12.3%), milk (10.4%) or eggs ( 9.3%).
It is for this reason that unions such as UGT-A and CCOO-A have demanded salary increases to guarantee purchasing power and that consumers can afford the shopping basket.
