Tuesday, 14 November 2023
The rise in the price of the shopping basket eased a little in the Malaga province in October, according to the figures published this Tuesday by the Spain's INE national institute of statistics.
Latest INE data showed prices for food and non-alcoholic beverages rose by 9.7% last month in year-on-year terms, the first time they have risen by less than 10% since March 2022.
But statistics show that filling the fridge and pantry in Malaga was more expensive than the rest of the country in October. Nationally, food prices rose by 9.3% and 9.5% including non-alcoholic beverages, the data showed. It has however steadied since February last year when prices for food and drinks rose by 18.7% in Malaga and 16.6% in Spain.
Malaga also comes out at a disadvantage in the general consumer price index (CPI) figure for the month of October. In Spain as a whole, prices rose at a rate of 3.5%, a figure identical to that of the month of September. On the other hand, in the province inflation accelerated to 4.1% in October from 3.9% registered a month earlier. As a result, it returns to the levels of May. In June and July inflation in the province managed to fall below 3% and was around 2.5%. The summer period inflated prices and in autumn it seems that, at least for the moment, the trend continues.
There are several factors that can explain this inflationary gap that separates Malaga from the national picture. It has already been mentioned that the shopping basket has becomes more expensive in the province than in Spain (9.7% compared to 9.5%).
Prices in Malaga restaurants and hotels are also more expensive than the rest of the country, rising by 8.2%, almost two points more than the 6.3% in Spain. And the 2.6% increase in transport in the province contrasts with the 1.4% increase in Spain, or the 8.2% increase in alcoholic beverages and tobacco in Malaga province compared with 7.6% in Spain. the cost for health care has also risen by 3.7% in Malaga compared to 2.2% nationally.
Meanwhile, clothing and footwear are 0.1% cheaper in Malaga province than a year ago, but the rest of the country recorded a 1.3% increase. Electricity, gas and other fuels fell by 21.9% in Malaga, while the average for Spain is 21.2% lower.
Prices in Andalucía rose by an average of 3.8% in October - three tenths less than in Malaga - while food and non-alcoholic beverages rose by 10% across the region, three tenths more than in Malaga province.
The data comes as the ministry of labour published its statistics on collective agreements, which revealed, in the case of Malaga province, an average wage rise of 2.87% in the agreements signed in the first ten months of 2023, a figure more than one point below the provincial CPI in October (4.1%).
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