According to data from the National Statistics Institute (INE), this rate is 2.2 percentage points higher than that registered in June. Following energy, the largest increases were observed in capital goods (+8% year-on-year), followed by intermediate goods (+5.8%), and consumer goods (+3.7%). Within the latter, durable goods became 2.7% more expensive and non-durable goods increased by 3.7%.
Nationally, industrial inflation rose by 9.2% year-on-year in July, marking five consecutive months of increases. The rise in the Canary Islands was largely due to the evolution of energy prices, which pushed their annual rate to 20.8%, particularly due to the cost of electricity production, transport, and distribution.
Specifically, prices for coke ovens and petroleum refining soared by 37.2% year-on-year, while electricity and gas supply increased by 16.1%. In contrast, non-durable consumer goods saw their annual rate decrease to 0.5%.
Excluding energy, industrial prices in the Canary Islands reduced their year-on-year rate by one tenth, standing at 3.5%. In the first seven months of the year, industrial inflation has accumulated an increase of 10%.
Industrial inflation registered positive annual rates in all autonomous communities. The largest increases were seen in Asturias (+19%), the Canary Islands (+18.5%), Andalusia (+17.4%), the Balearic Islands (+16.1%), and the Basque Country (+13%).
In monthly terms (July over June), industrial inflation surged by 3%, driven by a 16.6% increase in electricity production and distribution and a 5.3% rise in petroleum refining prices.
