In December, the consumer price index (CPI) reached 2.9% year-on-year, reflecting a decrease from November, primarily due to the reduction in fuel prices. According to the advance index published by the National Institute of Statistics (INE), in addition to fuel, the rise in prices for leisure and culture had an impact, while food and non-alcoholic beverages contributed to an increase, as their prices grew more than in December of the previous year. With the December rate, inflation closes the year with an average of 2.7%, according to the Ministry of Economy, which mentions that this average is lower than that of 2024, allowing families to regain their purchasing power. At the beginning of the year, inflation stood at 2.9% annually, increasing to 3% in February. It then experienced a decrease, reaching 2% in May, its lowest level of the year. Subsequently, prices began to rise, reaching 3.1% in October, the highest figure since mid-2024. In the last two months of the year, growth has eased, reaching 2.9%. The core inflation rate, which excludes unprocessed food and energy products, remained at 2.6%. According to the Economy analysis of inflation data, core inflation is expected to average 2.3% in 2025, compared to 2.9% in 2024, which is in line with the European Central Bank (ECB) target.
