Nearly half of basic foods have seen increases of over 20% in Spain, according to data from INE. The overall CPI reaches 4.9% in September, its highest level since early 2023.
Spain leads the rise in food prices in the European Union, with an increase that doubles that of France and Italy, according to que.es based on data from Eurostat. The overall CPI stands at 4.9% year-on-year in September, its highest level since early 2023, driven by energy and fuels.
Within the basket, eggs have recorded a 12% year-on-year increase, and nearly half of basic foods exceed a rise of 20%. According to INE, the overall shopping basket has become more expensive by over 40% since 2019.
Eurostat places Spain at the forefront of the European Union in food price increases, alongside Cyprus. In Germany, however, food prices have stabilised or even decreased.
The IMF, in its October meetings, forecasts an inflation rate of 3.7% for Spain by the end of the year, more than double the average projected for the eurozone. The organisation acknowledges the dynamism of GDP but warns that this growth is not evenly distributed among all households.
According to industry operators, distribution absorbs part of the price increases. The cost of raw materials at source, climate instability, and energy bills keep shelf prices at record highs.
The next reference data will be the October CPI from INE, which will be released in the coming weeks. It will show whether food prices moderate their increase for the first time this year.
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