Tuesday, August 16

The prices of passenger air transport soar 7% in summer, their biggest rise in 13 years

The prices of the air Transport passengers fell 0.2% in the third quarter of the year compared to the same period in 2020, a rate almost 12 points higher than the previous quarter, but they rose 7% between July and September, their highest quarter-on-quarter rise in 13 years, as reported by the National Institute of Statistics (INE) on Thursday.

Of the fifteen activities in the services sector for which the INE calculates price indices, five of them cut their interannual variation rate in the third quarter and six increased it, while four kept it stable.

This is revealed by the Services Sector Price Index, whose objective is to provide quarterly indexes of the evolution of the price of services provided to companies by each of the sectors from the producer’s point of view.

Between the activities that cut their year-on-year rate the most compared to the third quarter of 2020 telecommunications stand out, which reduced their annual rate five tenths, to 0.7%, due to the decrease in the prices of these services.

On the side of promotions, the air transport of passengers stands out; advertising, which increased its annual rate by more than seven points, to -5.5%, and maritime freight transport, which increased its interannual rate by more than one point, to 0.7%.

Record in thirteen years

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Regarding the quarterly variation (third quarter over second quarter), the biggest price drops occurred in advertising, which cut them by 18.5%, its largest quarterly decline since the third quarter of 2020, and in the telecommunications sector (-1.1%).

For its part, among the activities whose prices increased in a quarterly rate, passenger air transport stands out, which increased its prices by 7%, its highest quarter-on-quarter growth since the second quarter of 2008, and maritime freight transport, which raised its prices 0.6% compared to the previous quarter.


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