inflation In December, it managed to close 2023 at 3.1%, well below the 5.7% with which it closed 2022. Consumer price index December (CPI) data published this Friday by the National Institute of Statistics confirms the progress made by the INE on the 29th of last month, showing that the inflation rate fell by a tenth from 3.2% in the previous month, thanks to the aid. First of all, food products, whose average prices did not increase compared to November, despite the enthusiasm brought by the Christmas holidays.
Monthly CPI according to INE data food and non-alcoholic beverage group It was at 0% compared to November. At the annual rate, the price index of this group of goods was 7.3% more expensive than in December 2022. While this is admittedly below the 9% seen in November, it is still very high inflation. less than half from the rate recorded at the beginning of the year (15.4%) and from the maximum of 16.5% reached in March.
Olive oil, the undisputed main actor of food inflation throughout 2023, rose again in December compared to November (0.5%), so that at the end of the year this product was still 54.6% more expensive than in December 2022.
The highest monthly increase in the food group occurred during Christmas. lamb (4.4%) and fish (1.2%), while monthly decreases were recorded. fresh fruits (-2.9%) llegumes and vegetables (-0.9%) and alcoholic beverages (-1.6%). Looking at the whole year, the cost increase olive oil (54.6%) and that of the group oils and fats (36.3%) and increases in lfresh vegetables and fruits (13.2%), fruit (11.8%), pig (12.3%) and sheep (9.7%). annual increase eggs Cuts of up to 4.4% and sugar, its average price rose up to 6.2%. milk In December, it was 1.3% cheaper than in the same month in 2022.
The data published by INE, in general terms, indicates that inflation in 2023 will follow a downward trend, with some ups and downs, primarily due to the effect of inflation. The cut in energy prices continues and yet rising food prices, The increase rate only managed to fall below double digits in the last three months of the year.
Prices in December energy products was 6.4% cheaper than the same month of the previous year and food and non-alcoholic beverages, 7.3% more expensive. If the more volatile prices of energy and unprocessed food are reduced, the so-called Core inflation It fell decisively to 3.8% at the end of the year (from 4.5% in November).
Under conditions compatible with the European Union, Harmonized Consumer Price Index (HICP) In December, the rate remained at 3.3%, slightly above the provisional average of 2.9% for the euro area.
Especially, electric It recorded a monthly increase of 2.4% in December; This is in line with the average bill being -17.3% cheaper than in December 2022. natural gas and city gas Compared to December 2022, a monthly decrease of 0.8% (compared to November) and an annual change of -20.3% was recorded.
In the case of diesel fuel, A monthly decrease of -4.5% (and an annual change of +2.7%) was recorded in December. gas Although it was 10.3% more expensive than the same period last year, it fell 3.5% in December compared to November.
According to December data (3.1%), the average inflation for 2023 is 3.5%. This rate is the same as the average salary increase of 3.49% agreed in collective bargaining agreements until November (latest available data). In this way, it can be said that, on average, the agreed upon salaries are not lost. purchasing power In 2023.
For the Ministry of Economy, the CPI data for December “reveals the effectiveness of economic policy measures in maintaining the downward trend of inflation”, which allows “salaries to continue gaining strength”. Purchasing power and Spanish companies more competitivenessEven in the difficult international context, as the department headed by Minister Carlos Cuerpo emphasizes.
Between the extremes of the Canary Islands and Extremadura
by autonomous communities Canary Islands It offered the highest inflation rate (3.8%) in 2023 and Estremadura, lowest (2.4%). In the case of CataloniaInflation was 3.2%, one-tenth above the state average.
This rate was above the state average of 3.4%, which was 3.1%. Melilla And Castile la Mancha. 3.3% in regions Ceuta, Valencian Community, Cantabria, Balearic Islands and Andalusia. They closed the year with 3.2 percent Catalonia and Galicia, during La Rioja and the Basque Country They matched the state average of 3.1%.
Below the state average Murcia At the end of 2023, the inflation rate was recorded as 3%. They closed with 2.9% Navarra and Asturias. Castile and Leon marked 2.8%; Madrid2.7%; Aragon2.5% and Estremadura, 2.4%.