Prices in Spain rose 3% this month, compared to November 2024, according to an inflation estimate released this Friday, 28th, by the Spanish National Statistics Institute (INE).
If this forecast is confirmed, year-on-year inflation (price rise compared to the same period of the previous year) in November in Spain decreased by a tenth, after having stood at 3.1% in October.
It will also be the first drop after two consecutive months of increases in the consumer price index in Spain, which stood at 3% in September and 3.1% in October.
The evolution of inflation this month was mainly due to electricity prices, which fell in November and had increased in the same period in 2024, according to INE.
As for the underlying inflation rate (without energy and fresh food products, traditionally the most volatile in the shopping basket), it stood at 2.6% in November, after being 2.5% in October, reveals the same estimate released today.
This rate is therefore, according to INE estimates, at the highest value since December 2024 and has been increasing for five consecutive months.
In the chain evolution (comparison with the previous month), prices in Spain increased by 0.2% in November, after rising by 0.7% in October.