Core inflation falls by six-tenths to 5.2%.
OA | EITB media
The Consumer Price Index (CPI) maintained its annual interest rate at 3.5% in October, as the increase in electricity prices was offset by the decline in electricity prices and a less ‘intense’ rise in the food sector compared to that of a year earlier.
If confirmed the Advanced CPI this Monday by the National Statistical Institute (INE), would mark an end to three months of consecutive interest rate increases year-on-year rate (July, August and September). The INE will publish the final CPI data for October on November 14.
In monthly terms (October compared to September) the CPI registered an increase of 0.3%, a tenth more than the previous month. This recovery marks five consecutive months of monthly increases in inflation, after rising by six, two, five and two-tenths in June, July, August and September respectively.
For its part, the Underlying inflationwhich excludes unprocessed food and energy products, has fallen by six-tenths in its annual rate to 5.2%, according to Consumer Price Index (CPI) data released on Monday by the National Institute of Statistics (INE).
Economist and professor at Mondragon Unibertsitatea, Julen Bollain, comments on the rise in non-food prices, warning that the conflict in the Middle East could lead to a bigger increase in the cost of Christmas travel.
Source: EITB
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