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Underlying inflation continues to decelerate in the Valencian Region and now stands at 5.2%, the same as in Spain

In October 2023, the underlying inflation rate in the Valencia Region saw a six tenths of a percentage point yearly decline compared to the previous month, standing at 5.2%, the same as across Spain. For its part, the annual inflation rate remained at 3.5%, a number comparable to that of Spain overall.

Of the 12 categories of goods and services included in the Consumer Price Index (CPI), Food and non-alcoholic beverages had the highest annual inflation rate, standing at 9.3%, 1.4 percentage points lower than in the previous month and two tenths below the national average. Despite being the group under the greatest stress, the drop experienced means that it is one of those that has contributed significantly to the decline in the inflation rate, while Housing experienced the greatest upward pressure.

Following Food, the highest inflation rates were recorded by the group of Alcoholic beverages and tobacco, with an inflation of 7.5% (6.6% in Spain), and Restaurants and hotels of 6.8% (6.3% in Spain). When examining monthly inflation from September to October, the increase in Clothing and footwear stands out, which continues on the rise to 7.3% (1.3 points lower than the national figure).

The greatest amount of data made available by autonomous communities is displayed at the level of headings, which are divided into 56 categories. In the Valencian Community, one of these headings, Oils and fats, presented an annual inflation rate of 50.6% in October of this year. In addition, there are six others that are above 10%. As for the monthly variation experienced between September and October, the increase in the prices of Fresh fruits (13.9%) and Infant and child apparel (8.8%) also stand out.

The Price Bulletin of the Valencian Community, prepared by the Ivie, is included in the Price-Monitoring Observatory of the Valencian Region. In addition to these brief monthly reports, the project comprises a database with a system of indicators based on comprehensive data from the CPI, which is completed with other price indexes in different areas such as Industry, Housing, Urban land, Commerce and Tourism. It contains data for the Valencian Community, the rest of the regions and Spain and is updated monthly.