Just days after reports of key source holiday markets like Germany posting a drop in tourists to Mallorca with rising prices being one of the main reasons, it has been confirmed that the Consumer Price Index (CPI) rose to 3.6% in the Balearics in October in year-on-year terms, three tenths above the previous month’s year-on-year rate, according to final data published on Friday by the National Statistics Institute (INE).
October’s figures show that prices have risen for two consecutive months in the Balearics. In monthly terms, inflation in the Balearic Islands rose by 0.4%, while so far this year the increase has reached 2.8%. Prices show no sign of slowing down: October inflation was the highest of the year due to electricity and transport.
Prices exceed last year’s levels in all categories, with the highest being housing, water, electricity, gas and other fuels, up 6.6% on October 2024 (+0.4 points compared to the year-on-year rate recorded the previous month); restaurants and hotels, 6.6% (+0.5 points); alcoholic beverages and tobacco, 3.7% (-0.4 points) and other goods and services, 3.2% (+0.1 points).
Meanwhile, the most moderate year-on-year increases were in leisure and culture, 1% (-0.2 points); furniture, household goods and items for routine household maintenance, 1.5% (-0.2 points); communications, 1.9% (+0.9 points) and transport, 2.5% (+0.5 points). At the national level, the CPI rose by 0.7% in October compared to the previous month and increased its year-on-year rate by 0.1 points to 3.1%. At the end of October, the highest CPI rates were in the Balearic Islands (3.6%), Madrid (3.6%) and the Valencian Community (3.5%).
At the other end of the scale were Murcia (2.2%), the Canary Islands (2.5%) and Catalonia (2.6%). Cantabria (+0.4%), the Balearic Islands (+0.3%) and the Canary Islands (+0.3%) were the regions where prices rose the most in year-on-year terms, while Murcia, Galicia and Aragon saw the smallest increases, with declines of 0.2%, 0.2% and 0.1%, respectively.