Prices in the Community of Madrid experienced a 1.3% increase during March, marking the largest rise in the last four years. This surge has placed the annual inflation rate at 4.1%, a figure not recorded since February 2023. The capital once again leads in the cost of living increase, exceeding the national average by seven tenths of a percentage point.

The primary factor behind this escalation is the significant rise in crude oil prices, which has immediately affected its derivatives. Despite fiscal measures implemented by the Government to cushion the impact, fuels and gasoline saw an 11.7% increase in March, making them almost 8% more expensive than a year ago. This situation has led to a sharp rise in the transport sector, with a 5.1% monthly and 7.3% annual increase, particularly affecting private transport (+9.3% monthly and +7.9% annually). Urban public transport also became 20.6% more expensive, in this case, due to the cessation of some aid from central and regional administrations.

Core inflation, which excludes energy and unprocessed food prices, also showed a significant monthly increase of 0.7%, its highest rise in two years. After two months of decreases, this rate stood at 3.5% and is expected to continue rising during the second quarter. This scenario represents a considerable blow to household economies, especially when compared to the average wage increase agreed upon by collective bargaining, which remains at 2.6%, indicating a clear loss of purchasing power.

Meanwhile, some shopping basket products have maintained their moderation, with decreases in food (-0.2%) and housing-related expenses (-0.1%), mainly in electricity and gas supplies (-0.8%). However, other products such as beef (+12.5%), eggs (+21.4%), legumes and vegetables (+8.3%), and fish (+6.1%) remain considerably more expensive than a year ago.