Prices rise 3.4% in the Balearic Islands in June
Inflation has been marked by the end since June 1st of the bonuses for VAT applicable to electricity
PalmaPrices rose in the Balearic Islands in June by 3.4% compared to the same month last year, above the Spanish average of 3.2%, according to data from the National Statistics Institute (INE). The products that rose the most last June were restaurants and accommodation (7.6%), alcoholic beverages and tobacco (3.9%), and housing (3.5%).
Compared to the month of May, prices in the Islands grew by 1% and by 3.1% in the year-to-date cumulative, from January to June. The INE confirmed this Wednesday that the consumer price index (CPI) for June in Spain remained at 3.2% year-on-year, despite the increase in VAT on gas and electricity to 21%.
Inflation has been marked since June 1 by the VAT bonuses applicable to electricity, natural gas, briquettes, pellets, and firewood, and by the special tax on electricity, measures implemented by the Government to deal with the impact of the conflict in the Middle East. On the other hand, fuels and lubricants for personal vehicles, fiscal cuts that were still in force during the month of June, compensated for this downward price trend.
