May 17, 2021

The annual CPI drops six tenths in November and stands at 1.7%

The annual CPI drops six tenths in November and stands at 1.7%


The consumer price index (CPI) has fallen six tenths in November to 1.7% year-on-year, according to the leading indicator published today by the National Institute of Statistics (INE).

In this behavior has been particularly influenced by the fall in the prices of electricity and fuels with respect to a year ago, as explained by the INE, which will communicate the final inflation data on next December 14.

The CPI -which measures the evolution of the prices of consumer goods and services acquired by Spanish households- It shot up in early 2017 driven by energy prices and reached rates of 3%, until the middle of last year was contained, to start 2018 at 0.6%.

However, this containment around 1% in February, March and April was left behind in May, when prices were pushed above 2%, at which rate they have been located for six months, until in November they have accumulated an increase of 1.7%, according to provisional data.

Likewise, the leading indicator of the harmonized consumer price index (HICP) -which measures the evolution of prices with the same method in all countries of the euro zone- has remained this month at 1.7% year-on-year, also six tenths below last month's rate.

Regarding the monthly evolution of the CPI, the price increase rate registered a decrease of 0.1% in November compared to October, after three consecutive months of progress.

However, on this occasion, the monthly variation of the harmonized indicator does not coincide with that of the general indicator, since it reflects a decrease of two tenths.

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