Confirmed CPI data shows that the drop in fuels has not been able to offset the increase of more than 40% in energy or 20% in eggs, grains or milk
Prices are higher every month. The INE has confirmed what it achieved two weeks ago: inflation rose to 10.8% in July, the highest record since December 1984. It represents six-tenths more than the previous month due to the rise in the cost of electricity and shopping cart products.
Fuels are down in price compared to June, but this decline does not offset gains such as 41% in energy products from July a year ago, or more than 20% in basket staples such as grains, eggs or milk.
Inflation is therefore anchored in double digits and has chained three consecutive months of gains after declining 1.5 bps to 8.3% in April. It was just a mirage. In May, it rose to 8.7% and reached 10.2%, despite the introduction of the gas cap and the rest of the Executive’s new initiatives to try to lower it.
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.
