2023-04-30 03:00:00
Inflation rebounded in April in Spain to reach 4.1% over one year, due in particular to a slight rise in fuel prices, according to a provisional estimate published Friday by the National Institute of Statistics (INE).
This figure, which has yet to be confirmed, is 0.8 points higher than in March (3.3%). However, it remains very far from the peak of 10.8% reached in July, which was a record since the start of the statistical series 38 years ago.
According to the INE, the rebound in April is explained by the rise in fuel prices but also by a lower fall in electricity prices than that recorded a year ago. Food prices, on the other hand, rose “lower than in April 2022”, underlines the institute.
The harmonized consumer price index (IPCA), which allows comparisons with other countries in the euro zone, reached 3.8%, or 0.7 points less than in March (4.5% ).
Core inflation, which does not take energy prices into account and which is adjusted for seasonal variations, fell by 0.9 points, to reach 6.6% over one year.
Over the past year, the Spanish government has multiplied budgetary measures to support household purchasing power, which has been strongly affected by inflation which averaged 8.4% last year.
The executive thus announced at the end of December the abolition of VAT on basic necessities, as part of an aid package of 10 billion euros intended to stem the rise in food prices.
This measure brought to nearly 50 billion euros the total amount of measures taken by the Sanchez government for more than a year to help the Spaniards.
With this figure of 4.1%, Spain is in a more comfortable situation than most of its neighbors in the euro zone, where inflation reached 6.9% in March
In addition, inflation rebounded to 5.9% year on year in April in France, after slowing to 5.7% in March, according to an initial estimate published Friday by INSEE, which attributes this jump to the prices of energy and services.
The cost of energy products (gas, electricity, oil) thus increased by 7% between April 2022 and April 2023, after a more moderate increase of 4.9% over one year in March.
The acceleration of inflation is less marked with regard to tobacco (+9.4% over one year after +7.8%) and services (+3.2% after +2.9%).
The rise in the price of food products, on the other hand, was less rapid than in March, since their prices rose by 14.9% over one year after having reached 16% the previous month, details the National Institute of Statistics and economic studies (INSEE).
Food inflation has become the main driver of inflation in 2023, supplanting energy.
The slowdown in the rise in food prices in April mainly concerns fresh produce, the cost of which increased by 10.2% over one year, after having jumped by more than 17% in March.
Other food products rose by 15.8% over one year, a rate almost identical to that of the previous month (15.7%).
Finally, the price of manufactured products rose by 4.7% over one year, a very slight slowdown compared to March (4.8%).
Other good news, “over one month, consumer prices should increase by 0.6% in April 2023, after +0.9% in March”, says INSEE.
Although the consumer price index accelerated again over one year in April, its progression remains lower than that recorded in February (6.3% over one year), a month marked by the first anniversary of the war in Ukraine. .
The Russian military offensive has caused energy prices to soar in Europe in 2022 and fueled inflation, which has returned in France and Europe to levels not seen for several decades.
Insee is due to publish a second estimate of French inflation in April in mid-May.
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