The annual inflation rate, which measures the evolution of consumer prices in the last year, climbed to 4.32% in January 2018, the highest level since July 2013, according to data released by the National Statistics Institute (INS).
In December 2017, the annual inflation rate went up to 3.32%, from 3.23% in November.
Food products were 3.79% more expensive in January 2018 than in the same month of 2017, on average, while the prices of non-food products went up by 6.23%. Meanwhile, the services’ prices increased by 0.9%.
Compared to December 2017, the highest price increases were recorded in January 2018 for gas (3.79%), other vegetables and canned vegetables (3.23%), fresh fruit (3.1%) and citrus fruit (2.58%). Also, the fuel price, which has a wider impact on other prices, increased by 2.42% month-on-month.