He Consumer Price Index has climbed another tenth more in the month of February, representing an increase of 6% year-on-year; even if it is a figure 1.6 points lower than the 7.6% with which February 2023 closed.
The CPI has started 2023 with a slightly upward trend from the 5.7% with which December closed, the month in which a downward evolution was crowned from the maximum figures of July 2022: 10.8%.
Monthly inflation between January and February has grown nine tenths, which means that the accumulated variation in the first two months of 2023 now stands at 0.7%a figure that is three tenths higher than the 0.4% accumulated in the first two months of last year.
Interannual variation of the CPI until February 2023 / Photo: EA Analyzing the annual price variation by ECOICOP groups, we witness a new disproportionate increase in food prices, 16.6%, a figure that is almost double the increase in the next group. Along with the rise in food, those of the alcohol and tobacco sectors (8.4%), hotels and restaurants (7.9%) and household items and furniture (7.7%) stand out.
With more moderate rises would be the sectors of clothing and footwear, leisure and culture, or communications. The smallest increases, below 2% per year, are in the transport, education and health groups. The only year-on-year drop in prices was once again in the housing, water and electricity group, whereaccording to the INE, prices fell by 6.2% year-on-year in the month of February.
CPI variation by ECOICOP groups as of February 2023 / Photo: EA Within the large annual increase represented by inflation of 16.6% on average in food products, there are some prices that have skyrocketed in the last 12 months, highlighting 52.6% of sugar. Also above the 30% increase are other basic foods such as butter (39.1%), olive oil (33.5%), or milk (33.1%).
Also with very disproportionate increases were eggs and a 28.0% annual increase, flour with 26.2%, fresh legumes and vegetables with 23.6% or cereals with 23.2%.
Some basic products such as rice or potatoes are still above the CPI average for food, with 21.2 and 21.0% increases.
With lower increases than the average are the different meats (from 15.4% pork to 10.5% sheep), bread with 13.2% or 9.9% of fish. Below the general index of the CPI only fresh fruits would be found, with 5.6%, and nuts, with 4.8%, not seeing annual decreases in any food group.
Interannual variation of the CPI by CCAA until February 2023 / Photo: EA In inflation by Communities, the highest price increases occurred again in Melilla, with 7.5%, and in Castilla-La Mancha, with 6.9%.
Both Communities are followed by the Canary Islands and Ceuta, which share 6.8% annual inflation. The less pronounced rises are carried out by Madrid, with 5.2%, Catalonia with 5.6%, and Extremadura that inflation has dropped significantly this month to 5.7%. Aragon and the Basque Country were also below the national average for prices, 6.0%, which was nailed by the Balearic Islands and the Valencian Community.