Prices fall in the Balearic Islands

PRICES in the Balearic Islands have fallen by 1.2 per cent in January, compared with the previous month.

The National Institute of Statistics (INE) measured a reduction of clothing, transport and footwear prices on the islands. The annual Consumer Price Index (IPC) in the Islands is currently at -1.1 per cent.

The biggest reductions have been registered in clothing and shoe prices, which have fallen by 12.9 per cent in the Balearic Islands, followed by transport costs, which have dropped by 2.1 per cent and culture and leisure services, down 1.6 per cent.

In addition hotels, cafes and restaurants’ prices have fallen by 0.6 per cent.

On the other hand, property prices have increased by 0.6 per cent, as well as food, alcoholic beverages and tobacco, which have registered a 0.3 increase.