CPI advance data for January is one-tenth higher than December. With this increase, year-on-year inflation breaks through five consecutive months of declines.
Euskaraz irakurri: KPIa hamarren bat hazi da urtarrilean, %5.8 raino, et azpiko inflazioa%7.5eraino igo da
The consumer price index (CPI) recovered to 5.8% in January compared to the same month last year, according to advanced data from the National Institute of Statistics (INE). Year-on-year inflation stood at 5.7% in December, one-tenth less than in January.
So things, year-on-year inflation breaks through five consecutive months of declines and resume promotions. After peaking in July (10.8%), it fell by three-tenths to 10.5% in August; in September it fell by 1.6 points to 8.9%, in October it fell by 1.6 points to 7.3% and in November it cut its interannual rate by half a point to 6.8% and in December it fell it to 5.7%.
In monthly termsfrom December 2022 to January 2023, prices have fallen by three-tenths.
The advance details for January should be confirmed by INE by the middle of next month.
According to the INE, the increase in the year-on-year CPI is mainly due to the rising fuel prices as clothing and footwear prices fell less at the beginning of this year than in January 2022. Electricity prices, on the other hand, fell more in January 2023 than last year.
Core inflation up by five tenths to 7.5%
Underlying inflation, which does not account for unprocessed food or energy products, has increased by five-tenths to 7.5%.
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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.
