CPI fell to 8.3% in April, one-tenth more than expected

These figures improve data developed by the agency at the end of last monthIt pointed to an annual inflation of 8.4% and a monthly rate of -0.1% in April.

Despite CPI remains at unusually high levelsThis indicator hasn’t dropped this much in a month in over 35 years, especially since January 1987. Moreover, for April, it is the first drop in inflation after two months of strong increases that kept the CPI unchanged. 9.8% in March, the highest rate in almost 37 years.

According to statistics, the main reason for the annual CPI falling to 8.3% is the decrease in electricity and fuel prices for personal vehicles.

Special, transport group reduced its inter-year rate by almost six percentage points to 12.8%, due to lower fuel and lubricant cost for personal vehicles. In this group, the prices of automobile and passenger air transportation increased.

Housing group, on the other hand, decreased its annual rate by more than 14 points to 18.8% in April due to low electricity prices. On the upside, prices for gas and fuel for heating rose.

Electricity has become 34.9% more expensive over the past year, including tax breaks. electricity bill (In March 2022, this increase was 107.8%). When these tax cuts are reduced, the annual increase in electricity prices in April will be 54.4%.

Excluding the special electricity tax reduction and changes in other taxes, annual CPI was realized as 9.3%, one point above the general rate of 8.3% in April. This is reflected in the CPI in fixed taxes published by INE within the framework of this statistics.

in the face of moderation housing and transportation groupsUnderlining the increase in food prices, meat, bread and grains, legumes and vegetables, and milk, they recorded an annualized rate of 10.1% in April, up more than three percentage points from March due to the overall increase in most of their ingredients. , cheese and eggs.

The hotels, cafes and restaurants group also increased its annual rate to 5.8%, an increase of approximately 1.5 percentage points compared to March, due to the high cost of accommodation and restaurant services, and 2.9% due to the higher cost of the entertainment and culture group tourist packages, which increased their annual turnover. A change of about two points, up to .

up to 4.4% basic

Core inflation (excluding unprocessed food and energy products) increased by one point in April to 4.4%, its highest value since December 1995. Thus, core inflation is almost four percentage points below the general CPI.

At a monthly rate, CPI decreased by 0.2% in April compared to March, the first decline after two-month increases. It is also the first negative monthly inflation rate in April in 30 years, especially since April 1992.

In the fourth month of 2022, the Harmonized Consumer Price Index (IPCA) placed the annual interest rate at 8.3%, one-half point below March. The IPCA’s advance gauge, on the other hand, fell 0.3 percent month on month.

Electricity is almost 27% cheaper

At a monthly rate, IPC posted a month-on-month decrease of 0.2% in April, its first drop after two months of increases. It is also the first Negative monthly inflation rate in April every 30 yearsespecially since April 1992.

This decrease in prices in the month also responds to the decreases in housing and transportation groups compared to the increases in housing and transportation groups. food, clothing and footwear groups, hotels and restaurants, and entertainment and cultural groups.

In April, the highest increase in prices compared to the previous month was other oils (+39.8%) and hotels, hostels and hostels (+19.4%), while electricity (-26.9%) and gasoline (-12%) decreased the most. ,5). %) and diesel (-9.6%).

Olive oil price skyrocketed

Last year (April 2022 compared to the same month of 2022), other oils rose the most in price (+96.2%); liquid fuels (+95.7%); hotels and hostels (+50.5%); olive oil (+42.5%) and electricity (+34.9%).

On the contrary, what has gotten cheaper since April 2021 is toll booths and parking spaces (-20.4%); mobile phone equipment (-3.8%); audio-visual equipment (-2.7%); children’s and baby clothes (-2%) and games and hobbies (-1.5%).

To begin with, annual increases in prices heating, lighting and water distribution (+35.2%); oils and fats (+48.4%), eggs (+21.6%), cereals and derivatives (+13.7%) and personal transport (+13.2%).

Legumes and vegetables (+12.8), poultry (+12.7), beef (+11.4), mutton (+10, 7%), coffee, cocoa and infusions (+10.2) and bread (+10.1).

communities

In April, the annual CPI rate fell in all autonomous communities. With almost two points, the biggest decreases occurred in Comunidad Valenciana, Murcia and La Rioja, while Navarra dropped the least markedly with 1.1 points.

At the end of April, all communities submitted positive annual rates, but only one of them, Castilla-La Mancha, recorded more than two places (+10.4). At the other extreme with the lowest inflation rates were Canarias (+7.1%) and Madrid (+7.7).

In April, six Spanish provinces submitted annual CPIs of over 10%: Toledo (+11.5), León (+11%), Ávila (+10.9%) and Ciudad Real, Huesca and Cuenca, all with 10.3% .

Source: Informacion

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