According to data from the Spain’s National Institute of Statistics released Friday, in December the price of food in Spain surged at a record pace, rising 15.7% year over year.

According to the agency, prices surged to the highest they have reached since the current system of measurements was first introduced in 1994. Sugar, milk, butter, olive oil, soft drinks, flour, and other cereals exhibited the fastest rising prices.

At the same time, as electricity and fuel prices dropped due to the gas crisis abating amid increasing reserves, the overall inflation rate in the nation fell to 5.7%, from 6.8% in November. It was the lowest figure recorded in all of 2022, as well as the lowest figure recorded in the entire EU. However average inflation reached 8.3% for the entire year of 2022, which was the highest reading the nation had seen since 1986.

Madrid had previously implemented a whole raft of measures designed to contain inflation, including reducing the VAT on some food staples. The measures went into effect on January 1st, however many analysts expressed skepticism it would have much effect.

In an interview with the newspaper El Pais, Juan Carlos Higueras, a professor at EAE Business School said, “Since they knew that they had to lower VAT on January 1, some [businesses] raised prices before then, thus increasing margins despite the fact that it seems [the VAT cut] is being applied.” He added, “food prices will continue to rise with or without VAT,” due to various intermediaries within the food chain which can anticipate the government measures, and take advantage of them.