Friday, October 13, 2006

Good And Bad News on Consumer Prices

Well, the good news, according to this article in Canarias7, is that the Index of Consumer Prices (IPC) dropped in the Canary Islands by 0.1% in September. The not so good aspect is that this drop was only half of the national average reduction of 0.2% in Spain as a whole. This has to be better than another rise anyway.

The Index of Consumer Prices in the Canary Islands is currently standing at 113.4 points, which means that the products that in 2001 (the base year for the index) cost 100 euros, now cost 113.4 euros, having risen 13.4% in those five years.

El IPC canario bajó el 0,1%, frente al 0,2% estatal