Core inflation is rising to 5.5%, the highest level since August 1993.
Euskaraz irakurri: Inflazioa % 10.2ra igo da ekainean, 1985etik izan den Tasarik altuena
The consumer price index (CPI) rose 1.8% in June from the previous month, pushing its year-over-year rate up 1.5 points to 10.2%, the highest level since April 1985, according to the advanced data released this Monday by the National Institute of Statistics (INE).
In this way, inflation has chained two consecutive months of increases in its inter-annual interest rate, after moderating 1.5 points of the blow in April, to 8.3%. Later, in May, it climbed to 8.7% and in June it crossed the dreaded double digits: 10.2%.
The data for June, to be confirmed by the statistic by the middle of next month, is four-tenths above the peak reached in March of 9.8%.
According to the INE, the increase in the year-over-year CPI to 10.2% in June is mainly due to price increases in fuel and food and non-alcoholic drinks. The recovery in prices of hotels, cafes and restaurants, higher than last year, also had an impact.
Record core inflation figures
The INE includes in the preview of the CPI data an estimate of underlying inflation (excluding unprocessed foods or energy products), which increased by six-tenths in June to 5.5%, the highest value since August 1993. In this way the underlying percentage is 4.7 points. below the rate of the general CPI.
On a monthly basis, the June CPI rose 1.8% from May, one point higher than the previous month.
In the sixth month of 2022, the Harmonized Index of Consumer Prices (IPCA) set its annualized interest rate at 10%, 1.5 points more than in May.
For its part, the IPCA’s progress indicator rose by 1.8% in monthly rate.
The INE will publish the final June CPI data on July 13.
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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.
