In Spain, oil drives the price of food in June to 1.1% year-on-year

Published 2021년 7월 14일

Tridge summary

The article reports on the annual and monthly changes in the general CPI (Consumer Price Index) as released by the National Statistics Institute (INE), highlighting the fluctuations in various sectors, including agricultural products and foodstuffs. The annual rate of inflation stood at 2.7%, with the price index for alcoholic beverages and tobacco experiencing a decrease of 0.3%. Notable increases were observed in the prices of poultry meat, fresh and frozen fish, potatoes, and eggs, while decreases were seen in alcoholic beverages, canned fruits, cereals, and milk. The monthly price index for food and non-alcoholic beverages remained the same as in May, with specific food items experiencing price changes, such as oils, eggs, sheep meat, and fresh fruit. The first half of 2021 saw significant price fluctuations in oils, fresh fruit, and other commodities, with varying price drops and increases in different product categories.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The general CPI released this Wednesday by the National Statistics Institute (INE) stood at +2.7% in its annual rate; the price index for the alcoholic beverages and tobacco sector was negative (-0.3%). In the annual evolution, there have also been increases in poultry meat (+ 3.3%), fresh and frozen fish (+ 2.4%), potatoes and their preparations (+1.8%) and eggs ( +1.5%). The largest year-on-year falls occurred in the prices of alcoholic beverages and canned fruits and nuts (both with -1.5%), cereals and derivatives (-0.9%) and milk and sugar (both with - 0.8%). In the monthly evolution, the CPI for food and non-alcoholic beverages has remained at the same levels as in May (0.0%), compared to the decrease of -0.2% in the prices of alcoholic beverages and tobacco, and the increase in the general index of +0.5%. The foods and beverages that became more expensive in June compared to May were oils and fats (+ 4.2%), eggs (+1.5%) and sheep meat (+1.3%) and fresh fruit (+1.1%), ...

Source: PEefeagro