El Corte Ingles Supermarket, Palma.

El Corte Ingles Supermarket, Palma.

13-03-2020Wendy Wighton Urquhart

Prices are soaring and inflation is escalating in the Balearic Islands, thanks to a sharp rise in electricity and fuel prices.

The consumer price index, which tracks the price of more than 200 products and services, registered a year-on-year increase of 4.2% in September in the Balearic Islands, which is the highest increase for 13 years, according to the National Statistics Institute.

It's also higher than the nationwide increase of 4%, and eight-tenths above the 3.4% hike registered in August.

Prices have increased by 3.3% in the Balearic Islands and 3.1% nationwide since the beginning of the year.

In September, the cost of food rose by 1.9% and non-alcoholic beverages went up by 5.7%; eggs were 6.9% more expensive; fresh fruit cost 5.2% extra; bread went up by 2%; milk by 0.7% and dairy products by 2.1%.

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