Do you want to buy a car? Watch out for the latest price hike

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The price of cars experienced a interannual increase 1.4% during last October, which is the highest figure in the last two years, according to data published Thursday by the National Institute of Statistics (INE).

The rise in the price of cars in October is much higher than the one accounted for by the general Consumer Price Index (CPI), which increased 0.1% year-on-year. Thus, the price of cars accounts for their highest year-on-year increase since September 2017 (+ 1.6%), matching the increase recorded in August of this year.

Motorbikes in one of the road accesses to the city of Barcelona.

In the inter-monthly calculation, cars experienced a 0.2% increase in Spain, while the progression recorded in its price from the beginning of the current year stood at 1.2%.

On the other hand, motorcycles registered a price increase of 1.2% in October compared to that month last year, although they remained stable in the inter-monthly comparison and rose seven tenths since the beginning of 2019.

The prices of spare parts and accessories for vehicles showed no variation in October compared to that month last year, although they rose three tenths compared to September and one tenth since January.

In October, fuels recorded a reduction of 3.7% year-on-year and 0.3% month-on-year, with an increase of 6.7% in the accumulated of the year until last month, while the maintenance and repair services of vehicles increased their price 1.3% in October compared to last year, 0.1% compared to September and 1% so far in 2019.



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