Inflation rises again in April after the breather in March. The CPI rate goes back to 4.1% year-on-year, eight tenths more than in the previous month, according to the figure released this Friday by the National Statistics Institute (INE).
“General inflation has risen due to the base effect when compared to the month -April 2022- in which the fuel discount was introduced” and other measures, such as the reduction of electricity taxes, point out from the Ministry of Economic Affairs. The effect of the measures reduced the cost of these products, which are now more expensive without state support. Electricity is also cheaper than a year ago. In April 2022 the inflation rate was 8.3%.
Core inflation, which does not measure electricity or fresh products, has fallen by almost one point due to the slowdown in the growth of food prices, from 7.5% in March to 6.6% in April. This does not imply that they are cheaper, but rather that they become more expensive at a lower rate. In fact, month after month, comparing April with March, prices advance by 0.6%, two tenths more than in March.
Food and non-alcoholic beverages are still getting more expensive, it is reported, but less than a year ago. The mass consumption sector warned this Thursday that the drought could slow down any improvement in the data, which was expected to gradually fall as of March. New threat that can be seen in the price of olive oil or cereals. To know the evolution of food, we will have to wait a couple of weeks, when the INE confirms the data in advance this Friday and a breakdown by chapters.
