The increase comes after the lowest level since August 2023 was recorded, and is due to the increase in VAT on electricity and the increase in fuel prices.
The consumer price index (CPI) Increased in March four-tenths compared to the same period of the previous year, to 3.2%as a result of the VAT increase electricity and the rising costs of fuelsThis is evident from data from the National Statistical Institute (INE), which shows that food prices actually rose less in March than in 2023.
With this advanced CPI, inflation re-register promotions following the six-tenths decline in February that brought inflation to 2.8%, the lowest level since August 2023. This recovery still needs confirmed by the INE (the final data will be published on April 12).
The INE includes in the CPI data preview an estimate of the Underlying inflation (excluding unprocessed food or energy products), which fell by two-tenths to 3.3% in March, a rate one-tenth higher than that of the headline CPI. On a monthly basis (March compared to February), the CPI rose by eight tenths, reaching its third consecutive monthly increase and the steepest since February 2023, when yields rose 0.9%.
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.
