The price of electricity and fuel is compensating for the rise in food, which finds no ceiling in its rises
Prices finally moved away from the inflation spike recorded in the summer in September, when the percentage measuring variation in the cost of living was 11%. Last month, the price increase was 8.9%, according to data confirmed this Friday by the National Institute of Statistics (INE), which is a tenth less than the data 15 days ago, when the body put inflation at 9%.
The relief was also felt in core inflation, which measures price developments without taking into account the most volatile, such as energy or unprocessed foods. In this case, the shopping basket increased by 6.2% in September, two tenths less than in August, to 6.2%.
The INE attributes this fall in inflation to three basic components of the shopping basket: electricity and transportation versus food, which still has no cap. The moderation of the first two has partly offset the rise in the third by cutting the CPI rate after the record high in the summer months.
In the case of electricity, this has caused house prices to fall by more than 10 points to 14.2% year-on-year as a result of the moderation in energy prices in September, compared to the rise a year ago, when the very light started to go wild . The gas price moderated in September and this circumstance, together with the application of the Iberian ceiling, has managed to moderate energy costs.
In transport, price growth was 9.4%, two points lower than in August. This evolution is caused by the fall in the price of fuels and lubricants, compared to the increase registered in September 2021, and the fall in transport services, i.e. due to the start of free railway measures (Cercanías y Media Distance ) approved by the government since September 1
However, the group with the greatest positive influence is food and non-alcoholic drinks, with a growth rate of 14.4%, six-tenths higher than last month and the highest since the start of the series in January 1994. and vegetables, milk, cheese and eggs and meat stand out in this behavior, higher this month than in 2021.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
