12 May, 2023 @ 11:43
1 min read

Food inflation in Spain slows down by nearly 4% in April

Inflation falls in Spain with food price hikes at lowest rate since end of 2021

FOOD INFLATION in Spain was 12.9% in April compared to prices a year earlier, according to data published on Friday by the National Institute of Statistics(INE).

It’s the lowest level since June 2022 and a 3.6% fall on the March inflation rate.

The INE confirmed April’s inflation rate as standing on 4.1%- up 0.8% on March.

Though the fall in food inflation is good news, it is uncertain what effect the drought will have on crops and how that will feed into the economy.

Some of the biggest shopping basket rises in 12 months were sugar (up 49.6% over a year), butter (31.2%), whole milk (27.7%), skimmed milk (27.5%) and sauces and condiments (26.3%).

The Bank of Spain says that during 2023, the average increase in food prices will be 12.2%.

Raymond Torres head of economic think-tank Funcas told the El Pais newspaper: “Prices of agricultural raw materials such as fertilisers have fallen since October and that should contribute to curbing food prices.”

“The main risk is the impact of drought and everything depends on the weather not just in Spain but also in countries that may not be able to export to supply local demand and therefore contain prices,” he added.


Man On Uk 'most Wanted' List Arrested After Seven Years On The Run In Spain's Malaga Area
Previous Story

Man on UK ‘Most Wanted’ list arrested after seven years on the run in Spain’s Malaga area

The Doctor Performed Hand Physical Therapy For The Patient With Dumbbells.
Next Story

Strong for life: Helping Costa del Sol patients achieve an improved quality of life through physical therapy

Latest from Lead

Go toTop

More From The Olive Press

Missing British tourist is found alive in Spain after vanishing from Mallorca almost two weeks ago

A BRITISH trainee barrister who went missing 12 days ago

A Guide to Spain’s Top Casino Destinations

For over 40 years, Spain has welcomed gambling with open