Core inflation stands at 5.9%, 4 points above the general CPI, although it registers its lowest level since June 2022
MADRID, 12 Jul. (EUROPA PRESS) –
The Consumer Price Index (CPI) increased by 0.6% in June in relation to the previous month and cut its interannual rate by 1.3 points, to 1.9%, its lowest level since March 2021, due to the moderation in the prices of fuel, electricity and especially food and non-alcoholic beverages, which have fallen by more than one and a half points in the interannual rate, to 10.3%.
With the decline in June, inflation chains two consecutive months of falls after moderating nine tenths in May, to 3.2%, according to the final data published this Wednesday by the National Institute of Statistics (INE).
Statistics have attributed the moderation in inflation in June to the lower rise in fuel prices and the lower price of foods such as fruit, bread and cereals and meat, legumes and vegetables. Milk, cheese and eggs, for their part, kept their prices stable, compared to the rise last year, while oil and fat prices rose compared to the drop in June 2022.
For its part, core inflation (excluding unprocessed food and energy products) fell by two tenths, to 5.9%, standing 4 points above the general CPI and at its lowest level since June 2022.
Statistics have thus confirmed the advanced data at the end of June, which show that inflation fell to 1.9%, the lowest rate since March 2021. According to the Ministry of Economic Affairs and Digital Transformation, the measures adopted have allowed reduce inflation by almost nine points in less than a year.
“Spain becomes the first country of the large economies of the euro zone to reduce inflation below 2%, the ECB’s reference level”, they have highlighted from the Department directed by Nadia Calviño.
According to the Ministry, the inflation data for June confirm the moderation in the prices of fuels, electricity and especially food and non-alcoholic beverages, which have fallen by more than one and a half points in the interannual rate, with a decrease of the prices in June of the legumes and vegetables. “This positive evolution confirms the effectiveness of the main measures to reduce taxes and bonuses”, they highlight from Economic Affairs.
(((WILL BE EXTENSION)))
