The INE confirms that core inflation fell one tenth, to 6.1%
MADRID, 12 Sep. (EUROPA PRESS) –
The Consumer Price Index (CPI) increased 0.5% in August compared to the previous month and raised its interannual rate three tenths, up to 2.6%, mainly due to the rise in fuel prices and lubricants for personal vehicles and liquid fuels. The price of food, for its part, moderated its growth by three tenths, to 10.5%.
With the advance in August, inflation is chaining two consecutive months of increases after it rose four tenths in July, to 2.3%, according to data published this Tuesday by the National Institute of Statistics (INE), which confirms the advances at the end of last month.
Faced with the increase in fuel prices, Statistics highlights that the prices of electricity and accommodation services rose less in August of this year than they did in the same month of 2022.
Core inflation (without unprocessed food or energy products) fell one tenth in August, to 6.1%, standing 3.5 points above the general CPI.
In the case of prices of food and non-alcoholic beverages, their interannual rate moderated three tenths in August, to 10.5%.
This behavior, he explains to the INE, is due to the stability in the prices of milk, cheese and eggs compared to the increase they experienced the previous year, as well as the cheaper fruits and the fact that meat, bread and Cereals became less expensive in August of this year than they did in the same month of 2022.
The First Vice President and Acting Minister of Economic Affairs, Nadia Calviño, has highlighted that the final CPI data for August confirm that inflation remained below 3% and food inflation moderated.
“Spain is consolidating itself as the European economy with the highest growth and lowest inflation, which benefits the competitiveness of our companies and also the purchasing power of salaries,” Calviño stressed in statements sent to the media.
The acting first vice president has also highlighted that the economic policy measures applied in Spain have allowed inflation to be reduced by eight points in the last year “in an inflationary context throughout Europe.”
In monthly terms (August over July), the CPI registered an increase of 0.5%, three tenths more than what it rose in the previous month. With this rebound, inflation has had three consecutive months of monthly increases.
The monthly increase in the CPI in August was a consequence of the increase in fuel prices, tourist packages and restaurants, all in the heat of the tourist season. Food prices also increased in the month, by 0.2%, due to the increase in the cost of oils and fats, legumes and vegetables and, to a lesser extent, fish and seafood and meat.
In the eighth month of 2023, the Harmonized Consumer Price Index (IPCA) placed its interannual rate at 2.4%, three tenths above the rate registered the previous month. For its part, the monthly variation of the IPCA was 0.5%.
