In the CAV, the interest rate for the past month stood at 10.3%. According to the National Institute of Statistics (INE), prices have risen by 6% so far this year.
Euskaraz irakurri: Uste baino gutxiago jaitsi da KPIa abuztuan, % 10.5 eraino
The consumer price index (IPC) rose three-tenths from the previous month in August, but moderated its your rate three tenths, to 10.5%lasting at levels never seen in more than 30 years, according to final data released Tuesday by the National Institute of Statistics (IN).
So the agency has upped the data that came out late last month when it estimated a CPI of 10.4%. It also increased the advanced monthly increase by two-tenths from 0.1% to 0.3%.
The August data is three-tenths lower than the inflation peak reached in July last year, when the CPI stood at 10.8%, the highest level since September 1984.
With the three-tenths moderation recorded by the CPI on an annual basis in August, inflation is ending a string of three consecutive months of rises in its inter-annual interest rate: it rose to 8.7% in May; in June it broke the dreaded double digits (10.2%) and in July it shot up to 10.8%. This makes August the third consecutive month in which inflation has crossed double digits.
According to the INE, the annualized CPI moderation to 10.5% is mainly due to the drop in fuel prices. The transport group even moderated its year-on-year rate by more than 4.5 points, to 11.5%, thanks to cheaper gasoline and lubricants.
In August on the other hand electricity and food prices rose. The latter registered an annual increase of 13.8% in August, an increase three tenths higher than that in July and the highest since the start of the series, in January 1994. Particularly noteworthy is the increase in the price of meat, bread and cereals and milk, cheese and eggs.
In the housing group, the year-on-year rate in August rose by almost two points from the previous month, to 24.8%, reflecting the rise in electricity prices, more than a year earlier.
Without taking into account the reduction in the special levy on electricity and the variations in other levies, the inter-annual CPI reached 11.2% in August, seven tenths above the general rate of 10.2%. This is reflected in the CPI at constant loads that the INE also publishes in the context of this statistic.
In the past year, heating, lighting and water distribution have become 47.2% more expensive; oils and fats have increased their prices by 24%; eggs are 22.4% more expensive; milk costs 25.6% more and cereals 21.7% more.
On a monthly basis (August to July), the CPI registered an increase of three tenths (two more than expected), compared to the decrease of three tenths in July and the increase of 0.5% a year earlier.
The underlying value rises to 6.4%
Core inflation (excluding unprocessed foods and energy products) rose three-tenths to 6.4% in August, the highest since January 1993. Core inflation is thus more than 4 points below the overall CPI rate.
In the eighth month of 2022, the Harmonized Index of Consumer Prices (IPCA) placed its annualized interest rate at 10.5%, two-tenths lower than the previous month. For its part, the IPCA’s estimated monthly variation registers an increase of three tenths.
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Source: EITB
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.
