BarcelonaPrices pick up again in November in Spain. The consumer price index (CPI, the indicator that measures the cost of living for families) has grown this month by 2.4% compared to the same November last year, which places the average variation of the CPI in 2024 at 2.8%. Thus, as reported in a press release by the Spanish government, this will be the average increase in pensions that will apply from January 2025.
The increase this October is mainly due to the price of electricity, which this week has reached annual highs. The CPI has grown by 0.6% compared to October, according to data released this Thursday by the National Institute of Statistics (INE).
The annual increase of 2.4% recorded this month is, therefore, higher than the 2% set as a target by the European Central Bank (ECB) and breaks a dynamic of two months below this level, which had allowed to consider inflation normalized. However, the figure of 2.4% is not an understatement either and is below the average for 2024, of 2.8%.
The INE will give the final figures and broken down by autonomous communities of the IPC for November next December 13.
(We are working to expand this information)
Source: www.ara.cat
