Food prices rose by 12.9% in April. M. Salguero

Food price increases in Spain steadied in April to 13%, following 16.5% rise in March

Products where prices rose the most were milk, olive oil, cereals, potatoes, pork and eggs

Edurne Martínez

Madrid

Friday, 12 May 2023, 17:40

Food price increases in Spain steaded in April, rising by just 13% compared to 16.5% last month.

National statistics institute (NIE) data published on Friday, 12 May, showed that families continue to pay 13% more for food than a year ago, but the rise is starting to slow down.

It is the lowest level since June 2022 and is in line with the forecasts of the Minister of Agriculture, Luis Planas, who for months has been confident of a "moderation" in food price hikes as a result of the fall in the cost of raw materials and fertilisers on international markets. But the drought could cause food prices to rise again with harvests already badly affected and the supply of food decreasing.

Foods where prices rose the most in April were milk (27.6%), olive oil (22.2%), cereals (18.2%), potatoes (16.5%), pork (16.1%) and eggs (15.8%).

For yet another month, the product with the strongest increase compared to a year ago is sugar, which soared by 49.6%. Energy continues to fall (-15.6%), as do fuels (-4.3%).

But the general consumer price index (CPI) level picked up again in April, closing with a rise of 4.1%, compared to 3.3% in March.

The data comes after the Bank of Spain forecast food price growth of 12.2% by the end of 2023.

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