Inflation in Catalonia drops to 5.9% in January in first decrease in 10 months

At 5.9%, the consumer price index (CPI) decreased in Catalonia in January for the first time in 10 months according to the latest figures released by the Spanish Statistics Institute (INE) on Tuesday morning. 

Last month, year-on-year prices in Catalonia were 0.2% lower than those registered in December as well as the Spain-wide average for January. And although this is the first drop in just under a year, the rate is the second-highest Catalonia has seen since records began. 

Inflation in Spain in January also dropped for the first time in 10 months – from 6.5% in December to 6.1% – but was slightly higher than forecasted. 

This is attributed to electricity prices in January 2022. Although these are still 15.8% more expensive than a year earlier — despite Storm Filomena causing electricity prices to skyrocket as the first days of 2021 were the coldest fortnight since 2012 — they were actually 20% more expensive in December.

Fuel, on the other hand, was more expensive in January at 11.4% than in December, at 10.8%. 

Other sectors behind the year-on-year rise are clothing and footwear as well as furniture. Clothing and shoewear were actually 5.1% more expensive in January 2022 than in January 2021, up 4% from December 2021. This is despite the sales period that traditionally begins after Three Kings' Day on January 6 due to the negative economic effects of the Omicron variant. 

Furniture products, meanwhile, were 2.5% more expensive last month than a year prior after rising by 0.6% on December 2021 prices. 

The inflation of other goods, such as food and non-alcoholic beverages, stood at 4.5%, slightly below December figures, while alcoholic beverages and tobacco were at 1.3%, also a slight drop on the rate a month earlier.

Health care products, as well as those related to leisure and culture, or teaching, the restaurant industry, or communications, did not experience major changes.