Canary Islands: Unemployment falls despite record prices

Consumer prices in the Canary Islands reached their highest level in October since records began in 2002. The price index published by the Canary Islands Statistical Office ISTAC rose to 105.21 points. Inflation in the Canary Islands thus stood at 4.5 per cent compared with the same month last year.

Between September and October, the index rose by 1 per cent, from 104.18 to 105.21 points. In October 2025, it stood at 100.64 points. Of the 298 monthly figures published by the Office for National Statistics since January 2002, none was higher. Since that first month, the price level on the islands has risen by 64.8 per cent.

In the preceding months, the Canary Islands had already seen a record high in shopping prices. In August, consumer prices reached a further high, whilst the number of unemployed people in the Canary Islands fell. In October, this contrasting trend in prices and the labour market continued.

Canary Islands: Unemployment falls despite persistently high prices

In October, the statistics office ISTAC reported 141,518 unemployed on the islands. This was 4.2 per cent fewer than a year earlier. On Tenerife, the figure fell by the same proportion to 61,412 registered unemployed.

The official labour force survey, a household survey, showed a more pronounced decline for Tenerife. The unemployment rate on the island stood at 9.6 per cent in the third quarter, 3 percentage points lower than in the same quarter of the previous year. As early as the end of October, the fall in the unemployment rate in the Canary Islands showed that the decline recorded by the job centres was smaller than that indicated by the survey.