Energy and fuel price hikes pushed yearly inflation to 5.5% in November

The number is a small rise compared to October's figure, and the average person is starting to feel the effects

JOSÉ MARÍA CAMARERO

The average shopping basket is already starting to feel the effects of the rise in the price of electricity and fuel.

According to final figures for November, published this week, the annual inflation figure in Spain was 5.5% in the last 12 months. It was a small rise compared to October data.

The figure will be used to work out next year's rise for pension holders, which will be calculated as 2.5%, the average from December 2020 to November 2021.

The government has commented that although 5.5% is a high figure, it is only temporary.

It is expected that it will lower from the first quarter of 2022, once energy prices have stabilised.

Underlying yearly inflation, excluding energy and raw food ingredients, was 1.7% in November.