Friday, September 29, 2023

Sports prices remained on the rise and increased by 2.2% in August

Sports prices remain stable. In August, The Consumer Price Index (CPI) of recreational, sports and cultural services stood at 2.2% one tenth below the 2.3% recorded in July, according to data published this Tuesday by the National Institute of Statistics (INE).

In this way, the index remains between 2%, the minimum figure recorded in the current year in February, April, May and June, and 2.3%, the highest figure reached in January, March and July.

By product subclasses, Bicycles recorded a price decline in August, falling below 1% for the second time in 2023, after doing so in June, registered the minimum so far this year, with 0.6%. In August, the statistic stood at 0.9%, five tenths lower than the previous month.

In this regard, Entertainment and sports services focused on viewers remained at 9.3% for the third consecutive month far from the annual maximum, which occurred in January, when the inflation of this type of sports equipment stood at 12.7%.

Breaking the strong trend, Camping sports equipment recorded a decrease in prices in the eighth month of the year of 0.8% six tenths more than in July and is the biggest drop so far this year, surpassing the negative 0.4% in May.

Sports equipment thus accumulated five months of year-on-year price declines, after registering the highest increase of the year in January, with a price increase of 1.4%.

On a global scale, the month of August ended with inflation of 2.6% compared to the same month last year. This number registered an increase of three tenths compared to the July data and threatens to be a preview of the increases that will come between now and the end of the year.

The Consumer Price Index (CPI) is an indicator that measures the evolution of the prices of consumer goods and services purchased by households living in Spain. The survey is conducted monthly and is prepared from the observation of 462 articles.

Nation World News Desk
Nation World News Desk
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