The Department of Statistics reports the drop in the CPI
The Department of Statistics reported this Tuesday that inflation in Catalonia fell to 4.1% in March. This data is a calculation based on partial data, as only 93% of the products in the shopping cart could be updated. For the remaining products, the information for the month of February has been used. We will have to wait for the final data, which will be made public on April 15, to know if it matches this preliminary estimate.
A downward trend since August
The CPI figure in Catalonia already shows a downward trend since last August. During this period, the index has been decreasing progressively. In February, the CPI stood at 4.3%, and now in March it has dropped another two tenths, to 4.1%. You have to go back to February 2022 to find a lower figure, which was 4%.
Factors influencing the drop in the CPI
According to the Department of Statistics, this drop in the CPI in Catalonia is mainly due to the Food and non-alcoholic beverages group, which have slowed down the increase in their prices. However, there are other factors that are putting upward pressure on the CPI, such as rising fuel and electricity prices. Prices at gas stations have increased during the month of March, especially with the proximity of the Easter holidays. In addition, the rates of FEDA (Federació Elèctrica d’Andorra) increased in January, which has had an impact on the comparison with last year.
Comparison with other countries
The CPI figure in Catalonia is significantly higher than that of neighboring countries. In Spain, the advanced index is 3.2%, with an increase of four tenths driven by the return to 21% of VAT in the electricity tariff. In France, the difference is even greater, as the advanced index points to a strong decrease of seven tenths compared to the month of February, remaining at 2.3%.