• Core inflation remains at 1%

The interannual rate of the general CPI increased three tenths in November 2019 compared to the previous month and stands at 0.4%.

The prices of energy products reduced their rate of fall 1.3 points, to -5.2%, mainly due to the lower decrease in the prices of fuels and lubricants, three points less, to -0.7%.

Unprocessed food prices increased 2.7% year-on-year, nine tenths more than in October. Fresh fruit prices increased 5.6%, compared to 1.8% the previous month.

Core inflation, which excludes the most volatile elements of the CPI (unprocessed food and energy products), remains at 1% for the third consecutive month, due to the practical stability of the growth rates of its main components. The prices of processed food and services accelerated two and one tenth, to 0.9% and 1.5%, respectively, while those of non-energy industrial goods moderated their growth one tenth, to 0, 4%.

In November, the interannual rate of the CPI increased with respect to that of October in all the autonomous communities except in the Canary Islands, where it remained constant. The largest increase occurred in Murcia (half a point to 0.4%), followed by Cantabria, Castilla y León and Navarra, with increases of four tenths in all of them.

The interannual rate of the CPI to constant taxes stood at 0.3% in November, one tenth below that of the general CPI.

The INE has also published the harmonized CPI (CPI) corresponding to the month of November, whose interannual rate has also increased three tenths, reaching 0.5%. The inflation advanced by Eurostat for the whole of the euro zone is 1% in the same period, resulting in a favorable differential for Spain of 0.5 percentage points, equal to October.

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