News
Core inflation in the Valencian Community stood at an all-time high of 7.8% in January
At the beginning of the year, inflation was at an average annual rate of 5.7%, two tenths of a percentage point higher than in December of the previous year. Despite this upturn, it is still 5.2 percentage points lower than the 10.9% peak reached in July and August 2022.
However, core inflation, which does not include unprocessed food and energy products, once again surpassed a new all-time high standing at 7.8%, three tenths above the national average and seven tenths higher than in December.
If we classify CPI goods and services in 12 groups, the highest increase in prices is in Food and Non-alcoholic beverages, with an annual inflation rate of 15.9% in the Valencian Community, five tenths above the Spanish average, followed by Restaurants and hotels, with an inflation rate of 8.4%, versus the national average of 7.8%; and Furniture and furnishings, with an inflation rate of 7.9%, equivalent to the national average.
If inflation is broken down into 41 CPI subgroups, the year-on-year rate of change in the Valencian Community is over 10% in 5 subgroups: Food; Non-alcoholic beverages; Glassware, tableware and household utensils; Goods and services for routine household maintenance and Purchase of vehicles.
Finally, regarding headings, which is the maximum breakdown of data available for Spanish regions, the rise in prices in the Valencian Community was especially high in the following products: Sugar (45.5%), Milk (32.9%), Oils and Fats (31.2%), Eggs (25.9%), Dairy products (24.7%) and Cereals and derivatives (24.4%).
The monthly price evolution reports of the Valencian Community, prepared by the Ivie, is included in the Price-monitoring Observatory of the Valencian Regional Government. In addition to these brief monthly reports, the project includes a database with a system of indicators based on the detailed information of the Consumer Price Index (CPI), which is completed with other price indexes in different areas such as industrial, housing, urban land, trade and tourism. It contains data which is updated on a monthly basis for the Valencian Community, the rest of the Spanish regions and Spain.
