2023-08-30 09:01:50
For the second month in a row, the inflation It picked up again in August and stood at 2.6%, three tenths above the figure of 2.3% recorded in July and seven tenths above the floor of 1.9% that it was touched in June, when the lowest rate since April 2021 was recorded. Fuels were the main responsible for the new rise in inflation in August, according to the leading indicator of the consumer price index (IPC) that has anticipated this Wednesday the Statistics National Institute (INE) and that it will not be definitive until September 12.
In relation to the month of July, the CPI has risen 0.5% in monthly ratethree tenths above what it did in August 2022, which is why the annual inflation rate has risen from 2.3% in July to the current 2.6%.
In August of last year, gasoline and diesel registered monthly falls in their prices. This year, however, prices have moved in the opposite direction and this has contributed to boosting the general rate of inflation, up to 2.6%.
The evolution of the price of electricity has not helped either, which in August has marked maximums of the last six months, although, according to the INE, the rise has not reached the levels of the same month last year, when the price of 6 became more expensive. .4% in the monthly rate and raised its annual rate to 49.4%.
At the moment, the INE has not anticipated any clue on how food inflation has evolved in the month of August. It will be on September 12 when the evolution of the prices of the different goods and services will be published in detail. For now, the INE has announced that the call Underlying inflation (which excludes the more volatile prices of energy and unprocessed food) dropped one tenth compared to July and stood at 6.1%.
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The forecasts for the coming months of the study services and the Government itself include that the slight rise in inflation will continue until the end of the year to end with an average rate of around 3.2%, according to the latest Bank projection. from Spain.
In any case, the Government appreciates that Spain is consolidating as a one of the euro zone countries with the lowest inflation, after lowering it about 8 points in the last year. In fact, the INE estimates that the Harmonized Consumer Price Index (IPCA) has stood at 2.4% (below the general rate of 2.6%). From the point of view of the economy, this favors the competitiveness of Spanish companies, the gain in market share and the increase in the purchasing power of wages.
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