The moderation is due to lower fuel prices, as food prices rose less in June than in the same month of 2023. On the other hand, the increase in prices for leisure and culture is notable.
The consumer price index (CPI) rose 0.3% in June from the previous month, but lowered the interannual rate by two-tenths to 3.4%, according to data released on Friday by the National Institute of Statistics (INE).
The organization explained that the moderation of the CPI to 3.4% is due to the cheaper fuel and the fact that the prices of food prices rose less in June then in the same month of 2023.
On the other hand, Statistics emphasizes the upward influence on the CPI of the leisure and culture groupwhose prices have risen more this month than in June last year.
With the decline in the interannual CPI in the sixth month of the year, inflation ends three consecutive months of increases, following the increases in March, April and May.
The INE includes in the preview of the CPI data an estimate of underlying inflation (excluding unprocessed food and energy products), which remained at 3% in June, the same rate as in May and four-tenths lower than the headline CPI.
On a monthly basis (June compared to May), the CPI increased by three-tenths, making it the sixth consecutive monthly increase.
The INE will publish the final CPI data for June on July 12.
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.
