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Food pushes inflation back to 10.8%

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this inflation It reached 10.8% in July, setting a new record since September 1984, After lowering the consumer price index by two-tenths from the previous month, according to the leading indicator of the National Institute of Statistics (INE). reached its peak in June 10.2% annual rate37-year high that triggered and accelerated all alarms new government action planincluding a provisional tax on unexpected profits from banks and energy companies.

Despite the decline in fuel prices, the CPI rose again due to the evolution in food and soft drinks and electricity prices, as well as in clothing and footwear.

After starting in energy, the increase in the general level of prices has been transferred to the economy as a whole, as stated above. Core inflationExcluding energy and unprocessed food prices and rising from 5.5% in the previous month to 6.1% in July, which was at the level of January 1993, Shopping cart and basic products fruit or vegetables.

This development gained momentum, pushing prices in the euro area as a whole to 8.6%, a 20-year high. increases in the price of money European Central Bank (ECB). The increase, which was expected to be 0.25 points in June, was realized at the end of 0.50 points, the first increase in 11 years. Highest amount at a time in 22 years.

In addition, the monetary authority of the euro zone is not responsible for this increase in interest rates. country debt buying mechanism areas affected by the increase risk premium.

Source: Informacion

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