In April, inflation rose to 3.3% on an annual basis due to increases in gas and food prices, while core inflation stood at 2.9% on an annual basis.
The Consumer Price Index (CPI) increased its interannual interest rate by three-tenths to 3.6% in May, recording the highest level since April 2023, according to data released by the National Institute of Statistics (INE) on Thursday.
The increase in annual inflation is mainly due to the increase in electricity prices, due to the increase in VAT on electricity, and to the fact that fuel prices fell less in May this year than in the same period of 2023.
The interannual CPI therefore has three consecutive months of increases, after the increases in March (+0.4%) and April (+0.1%).
On a monthly basis, prices increased by three-tenths from April to May. This is the fifth consecutive monthly increase.
Core inflation, which excludes unprocessed food and energy products, rose by a tenth to 3% in May. In any case, it is below the general CPI rate.
Advance payment details for May must be confirmed by INE on June 13.
Source: EITB
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