The prices of food and beverages in Spain grew by 0.8% annually in May

Published Jun 11, 2021

Tridge summary

The Consumer Price Index (CPI) in Portugal experienced an annual increase of 2.7%, with a monthly rise of 0.5% and a 2% growth in the first five months of the year. Food and non-alcoholic beverages saw a monthly increase of 0.4% and a year-to-date growth of 1.7%. However, alcoholic beverages and tobacco prices decreased slightly month-over-month. The most significant price increases were observed in oils and fats, sheep meat, and mineral water, while canned fruits and nuts, alcoholic beverages, and cereals saw the largest decreases. The rise in fruit prices, especially fresh fruits, was a major factor in the positive monthly impact on the CPI, while legumes and vegetables had the most significant negative impact.

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

Original content

The general Consumer Price Index (CPI) increased 2.7% annually, 0.5% monthly and 2% in the first five months of the year. According to the INE, food and non-alcoholic beverages registered a price increase of 0.4% in monthly rate and 1.7% between January and May. The prices of alcoholic beverages and tobacco decreased 0.3% compared to May 2020, remained unchanged compared to April and grew 0.6% until May. In the annual evolution of prices, the INE highlighted the behavior of those of fish and shellfish, which fell in 2020 more than in May 2021, and the increases of those of oils and fats, greater than last year, and of meat, which fell in 2020. By headings, the largest annual increases in food and beverage prices corresponded to oils and fats (+ 7.8%), sheep meat (7.5%) and mineral water, soft drinks and juices (6.1 %). The biggest cuts were those of canned fruits and nuts (-1.8%), alcoholic beverages (-1.5%) and cereals and derivatives (-1.3%). Food and non-alcoholic beverages ...

Source: PEefeagro