The rise in energy product prices fell by more than 4 points to 6.4% year-on-year as a result of a slower increase in liquid fuel and lubricant prices in November, which stands at 7.6% year-on-year. The increase in electricity prices also slowed by 3.5 points to 0.3%.
Unprocessed food prices maintained a year-on-year rate of 3.5%. It is worth noting the higher increase in fresh pulse and vegetable prices (almost 4 points to 6.5%) and the slower increase in fresh fruit prices (4.5%).
Core inflation (which excludes the most volatile elements of CPI, unprocessed food and energy products) stands at 0.9% year-on-year. This is 0.1% lower than in October.
Among the components of core inflation, the price of processed foods, drinks and tobacco rose by 0.6% in November. This is 0.4% lower than in October and it is worth noting the fall in olive oil prices (14.6%), 4 points higher than in the previous month.
The price of non-energy industrial goods (NEIG) remained almost unchanged, 0.1% year-on-year.
The prices of services, the third component of core inflation, slowed by 0.1% to 1.5%. Passenger transport by air is worth highlighting, with prices falling by 8.2% year-on-year. This decrease is almost 7 points higher than in the previous month. Tourist packages also fell by 0.4% (compared with an increase of 1% in October).
The year-on-year CPI rate fell in all autonomous regions in November when compared with October. The largest decrease was posted in Cantabria, with a decrease of 0.8% to 1.6%. In turn, the Canary Islands is the autonomous region where the rate of inflation fell the least (0.3% to 1.6%).
The year-on-year constant tax CPI rate for November stood at 1.7%, the same as the general CPI.
The INE has also published the harmonised CPI (HCPI) for November, the year-on-year rate of which also fell by 0.6% to 1.7%. The rate announced by Eurostat for the whole of the Eurozone for November stands at 2%, leading to an inflation differential in Spain's favour of 0.3 percentage points.
Non official translation
EFE