The decrease is mainly due to lower prices for transport and food and drink. Core inflation fell by two-tenths to 5.9%.
A. Aramendi Elduaien | EITB Average
He Consumer Price Index (CPI) has cut its interannual interest rate by 1.3 points from last month and is on the 1.9%the lowest level since March 2021. The prices of fuel, electricity and food and drink non-alcoholics have been the ones who led the CPI to this drop.
In particular, foodstuffs such as fruit, bread and grains and meat, legumes and vegetables have fallen in price. Milk, cheese and eggs, on the other hand, remained stable compared to last year’s increase. However, oil and fat prices are rising compared to the decline in June 2022. With all this, the data for food stands at 10.3%, which lowers the inter-year rate by more than a point and a half.
The price of fuel has increased, but this increase was less than in June 2022. Therefore, the annual rate is -7.6%, almost four points lower than last month. The National Institute of Statistics (INE) has also highlighted that electricity prices are rising less than last year, causing the housing department’s rate to fall by more than two points to -12.7%.
On the other hand, the leisure and culture category increased to a percentage of 5.2%, nine tenths higher than the previous month. This evolution is due to the fact that the prices of tourist packages are increasing more than in June 2022.
Inflation, on the other hand underlying (excluding unprocessed food or energy products) is down two-tenths to 5.9%, the lowest level since June 2022.
It is also worth noting the data of Hego Euskal Herria. In the report published by the statistics institute INE, the CPI in these two areas It has decreased remarkable in June, until reaching the 2.3% in Álava Bizkaia and Gipuzkoa and 2% in Navarre. In May they were 3.4% and 3.6%.
The Ministry of Economic Affairs and Digital Transformation was satisfied with the June figures. The department headed by Nadia Calviño wanted to emphasize that “Spain becomes the first country of the major economies of the eurozone to bring inflation below 2 %, the reference level of the ECB” and to ensure that “the measures taken have reduced inflation” by almost nine points in one year.
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.
