Inflation In September Is Confirmed At 4%

The Consumer Price Index (CPI) climbed to 4% in September in the interannual rate, its highest level in 13 years and 0.7 points above the August figure, mainly due to the rise in electricity.

The data confirmed this Thursday by the National Institute of Statistics (INE) corresponds to the advance in September and places inflation at its highest level since September 2008, in the midst of the global financial crisis, when it reached 4.5%.

The main culprits for the price hike last month were electricity, higher than in September 2020, and diesel for heating and gas .

The increase in the prices of fuels and lubricants for personal vehicles and the lower decrease in the prices of tourist packages with respect to the same month of the previous year also had an influence.

The housing group , for its part, raised its interannual rate by three points in August, to 14.5%, due to the rise in the price of electricity, while the leisure and culture group increased its rate by 1.5 points, up to 0.9%, due to the evolution of the prices of tourist packages.

For its part, the transport group increased its interannual variation by one point, to 9.8%, due to the increase in gasoline for personal transport. However, there was a decrease in prices in other services related to personal vehicles due to the end of payment in some sections of motorways .

At the other extreme (negative influence on prices) is the group of foods and non-alcoholic beverages, which lowered its interannual rate by one tenth, to 1.8%, due to cheaper fruits and the fact that legumes and Vegetables have risen in price less than in September 2020.

Electricity accounted for almost five tenths of the eight that the CPI rose in the month
In monthly rate, the CPI chained its second consecutive rebound, rising 0.8% in September, three tenths more than in August and its highest monthly rise since last April. The 10.9% rise in electricity accounted for almost five tenths of the total monthly variation.

By communities, the annual rate of the CPI increased in all regions in September. The largest increase occurred in Cantabria (4.5%) , with a rise of one point, while the Comunidad Foral de Navarra recorded the smallest increase in its annual rate, increasing by five tenths (3.6%).

The core inflation (without unprocessed food or energy products) increased in September tenths three to 1%, and three points is below the rate of the overall CPI. This represents the largest difference between the two rates since August 1986. So far this year, this gap has set several records .

Categorized as News

Leave a comment

Your email address will not be published.