Inflation rebounds in Spain in November and rises to 2.4% due to electricity and fuel

Inflation has risen six tenths in Spain in the month of Novemberreaching 2.4%, its largest increase since September of last year. The increase is mainly due to the increase in fuel and electricity prices, and coincides with the progressive withdrawal of Government discounts on VAT on food.

According to data published by the National Institute of Statistics (INE) this Thursday, the consumer price index (CPI) has already three months up after marking its lowest value in September (1.5%). The November rate places the general index at its highest level since July (2.8%).

Regarding core inflation (which does not include energy prices or unprocessed food prices), It is also at 2.4%a decrease of one tenth compared to the month of October. With this data from November, necessary to calculate the pension revaluation formula after the 2021 reform, pensions will rise by at least 2.8% in 2025.

German inflation rises again

In Germany, inflation has also risen again. According to preliminary data from the Federal Statistical Office, prices of goods and services in Baden-Württemberg, Bavaria, Brandenburg, Hesse, North Rhine-Westphalia and Saxony increased between 1.9% and 2.9% compared to the previous month.

The cost of living too increased in five of these federal statesalthough slightly more slowly in North Rhine-Westphalia. Above all, the increase in utility costs, among others (excluding net rent), is driving prices up again.

Food too They became more expensive throughout the yearalthough at 2.4%, it was weaker than the general index. Energy, on the other hand, became cheaper in Germany: by an average of 3.3% compared to November 2023.