This is the highest annual inflation rate in the past 37 years. The rise in the prices of electricity, petrol and food has brought the CPI to almost 10%.
The the year-on-year inflation rate for the month of March in the state was 9.8%, according to data from the National Statistics Institute. In this way, the official body confirms the advance CPI data. This is the highest inflation in the past 37 years. The rising prices of electricity, petrol and food have pushed the CPI to almost 10%.
From February to March, the CPI rose 3%, pushing the year-on-year yield two points higher than the previous month to 9.8%. It is the highest percentage since May 1985.
According to the INE, the year-on-year increase in CPI to 9.8% is due to the rise in the prices of electricity and diesel for heating; of fuels for personal vehicles; of restaurants and accommodation services, and the “general” rise in food prices, especially fish and shellfish, meat, legumes and vegetables, and milk, cheese and eggs.
The Underlying inflation (excluding unprocessed foods or energy products) rose four-tenths in March to 3.4%the highest value since September 2008.
In the past year, heating, lighting and water distribution have become 68.3% more expensive; oils and fats have increased their prices by 32.1% and personal transport is 19.3% more expensive due to higher fuel costs. Eggs and milk (11% more expensive than a year ago) and mutton and fresh and frozen fish also posted double-digit increases, with increases of 10.1% in both cases.
In month-on-month interest rates, the CPI has seen the largest increase in any month since 2002, when the methodology for this statistic was changed.
Price increase in Hego Euskal Herria
In the Basque Autonomous Community, annual inflation is four-tenths lower than the state’s, although the monthly variation from February is also 3%. The multi-year CPI is placed in the 9.5%equally driven by rising energy and food.
In the Community of Navarrathe CPI is the same as in the State: 9.8%
High inflation worldwide
Inflation also occurs to a greater or lesser extent in other western countries.
In Germany, the annual rate for March was 7.3%; in the United Kingdom at 7% and in the United States at 8.5%. These are the highest percentages in the past three decades.
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.
