The Consumer Price Index (CPI) in the Balearic Islands dropped to 2.3% in August year-on-year, six-tenths less than the previous month. According to data published by the National Institute of Statistics (INE), this is the lowest figure recorded in the region since March 2021.

Price increases by sector

Despite the overall decrease in the CPI, some sectors registered a rise in prices:

  • Other goods and services: Increased by 4.5% compared to August 2023.
  • Housing, water, electricity, gas, and other fuels: Rose by 4% compared to the previous year.
  • Restaurants and hotels: Recorded an increase of 3.8%, although they dropped by 0.6 points compared to July.
  • Alcoholic beverages and tobacco: Increased by 3.2%, with a rise of 0.5 points compared to the previous month.

Sectors where prices fell

In contrast, some sectors saw a decrease in their prices year-on-year:

    • Clothing and footwear: Registered a drop of -2.8%.
    • Transport: Decreased by -0.4%, with a reduction of 3.1 points compared to July.

Evolution of the CPI in the Balearic Islands

In monthly terms, inflation in the Balearic Islands rose by 0.3% in August, while the cumulative increase so far this year stands at 3.2%. This drop in the CPI in the Balearic Islands reflects a trend of price moderation, which remains aligned with the evolution of the CPI at a national level.

Comparison with the rest of Spain

At a national level, the CPI remained at 2.3% in August, matching the rate in the Balearic Islands. The regions with the highest increases were Euskadi (2.6%), Canary Islands (2.5%), and Aragon (2.4%). On the other hand, the regions with the lowest rates were Murcia (2%) and Castilla-La Mancha (2%).