The inflation rate edged up to 6.3% in October 2021, after stabilising at 6.2% for the past two months, the National Statistics Institute (INS) said on Friday

The core inflation rate (excluding food and energy) rose to 6.3% against 6% in September.

The prices of free (unregulated) products evolved at 6.2% and regulated prices at 6.7%. Free foodstuffs saw an increase of 7.5%, against 4.3% for regulated foodstuffs.

According to the Institute, this increase in the inflation rate is mainly due to the accelerated pace of price increases for clothing and footwear (8.6%, against 7.8% last month) and educational products and services (7.8%, against 6.1% in September).

The INS reported a slight deceleration in the annual rate of increase in food prices (7%, compared to 7.2%).

This rate is explained by the rise in prices of poultry by 27.3%, olive oil by 23%, eggs by 14.4%, fresh fruit by 13.7% and fresh fish by 8.3%.

Conversely, beef and sheep meat prices fell by 4.3% and 2.9%, respectively, over the year.

The same is true for dried fruit prices, which fell by 7.1% over the year.

Prices of manufactured goods rose by 7.5% year-on-year, due to an 8.5% increase in the prices of pharmaceuticals, a 12.4% jump in building materials, an 8.6% hike in clothing and a 5.9% increase in household cleaning products.
The prices of services grew by 4.6%, as the prices of restaurants, cafés and hotels went up by 6.5%, health services by 6% and rents by 4.5%.

Consumer prices up 0.9% over one month

The consumer price index climbed by 0.9% in October 2021, after 0.6% in the previous month, due to the 6.4% rise in clothing prices, the 0.9% increase in food prices and the 1.7% rise in prices of educational products and services.
Meanwhile, the prices of tobacco products fell by 0.5%.

Source: TAP News Agency