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August inflation rate sees increase by two tenths in the Valencian Community up to 2,6%, although the underlying rate remained stable

In August, the annual inflation rate in the Valencian Community increased by two tenths of a point, rising to 2,6%, a figure similar to that of Spain. Thus, it maintained the upward trend of the previous month. However, core inflation, which excludes unprocessed food and energy products, remained stable in August and was set at 6,3% in the Valencian Community, two tenths above the national average.

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 10,4%, which is one tenths below that of July and also one tenths below the national average.  Restaurants and hotels follows with an inflation of 7.3% (6.4% in Spain) and Leisure and culture (7.1% vs. 7.0% in Spain). If we focus on monthly inflation from July to August, the increase in Transportation stands out, with a growth of 2.9%, identical to that of Spain.

Since annual inflation exceeded the 3% threshold in August 2021, exactly two years later, the accumulated increase in the CPI was 13.7% in the Valencian Community, three tenths above the national average.

Of the 41 subgroups into which the CPI is divided, in the Valencia Region the year-on-year rate is above 10% in the following 4 categories: Tourist packages (22.2%, a rate similar to that of Spain), Accommodation services (11.3% vs. 8.1%), Food (10.3% vs. 10.4%) and Non-alcoholic beverages (10.2% vs. 11.2%).

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, three of these headings presented an annual inflation rate of more than 15%: Sugar (40.6%), Oils and fats (31.5%) and Pork (15.8%).

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.