Inflation peaked in March and hit double digits, but the fuel subsidy has also managed to cut the rate
In March inflation reached a record close to double digits (9.8%), the highest in four decades, but in April the situation eased slightly to 8.3%, as confirmed this Friday by the National Institute of Statistics. (INE), which is down a tenth compared to its progress fifteen days ago. Inflation in April was one and a half points lower than in March, but still the highest since 1986.
This large decrease is mainly due to electricity and petrol. On the one hand, because the price of electricity is starting to fall due to cheaper natural gas, more wind and photovoltaic production and lower household consumption due to the arrival of spring. And on the other hand, due to the fall in the oil price in the markets – although it is still above 100 dollars a barrel – and the bonus of 20 cents per liter of fuel that the anti-crisis plan of the the government.
They assure the Ministry of Economy that it has been a “significant reduction that breaks the upward trend of recent months, which shows the first effects of the measures taken by the government to mitigate the economic consequences of the war in Ukraine. soften”. , to reduce energy costs for families». They also acknowledge that the “slowdown” in electricity prices has also contributed to this reduction.
In the executive branch, they hope that inflation will continue to fall in the coming months thanks to the gas price restriction approved that same Friday in the extraordinary council of ministers, which will allow a “significant” cut in the price of electricity. “The decrease in the electricity bill of homes and businesses will happen as soon as possible,” they say.
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.
