Prices of energy products increased in October by 10.7% year-on-year, 1.3 points below the September figure. The lower growth can mainly be explained by electricity prices, which rose by 3.8% year-on-year, nearly 10 points less than in September. This trend was partly offset by gas prices accelerating to 10.8% and fuel and lubricants to 13.2%.
Prices of unprocessed food rose by 3.5% year-on-year, with the rate of increase of fresh food prices falling significantly, by nearly 5%, to 7%.
Core inflation, which excludes the more volatile CPI elements (unprocessed food and energy products), stood at 1% year-on-year.
Among the components of core inflation, prices of processed food, drink and tobacco rose by 1%, with a notable stabilisation of milk prices, compared with a fall of 1.1% in September.
Prices of non-energy industrial goods (NEIG) remained stable in October, with a rise of 0.1% year-on-year.
Prices of services, the third component of core inflation, rose slightly (0.3 points) to 1.6%; with notable changes in tourist packages, which rose by 1% (against a fall of 4.7% the previous month) and air passenger transport, whose price fell by 1.4% (compared with a fall of 10% in September). In contrast, telephony and fax services slowed by 0.7% to 3.9%.
The annual CPI rate fell in nine autonomous regions in October with respect to September, remained flat in three and increased in the remaining five. The biggest falls in inflation were in Aragon and La Rioja, down 0.2% in each.
The regions with the biggest annual rises were Cantabria and the Region of Madrid, up 0.2% in each.
The year-on-year CPI at constant taxes in October stood at 2.3%, the same as the general CPI.
The INE also published harmonised CPI figures (HCPI) for the month of October, with the year-on-year rate also remaining at 2.3%. The rate advanced by Eurostat for the Eurozone as a whole was 2.2% in this month, 0.1% lower than the general inflation rate in Spain, and 0.1% down on the figure for the previous month.
Non official translation
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