Inflation fell sharply to 3.3% in March, matching the 2.5 percentage point decrease recorded in February (6%) and the rate announced by the National Institute of Statistics (INE) at the end of March. The fall in inflation went hand in hand, above all, with the moderation in foreign exchange prices. electricity, fuel and gas. Food contributed to the grain of sand: It rose again compared to February (1.1%), but they reduced their annual inflation by a tenth to 16.5%, compared to the February record of 16.6%. On his behalf, call Core inflationExcluding more volatile food and energy prices, it fell to 7.5% in March.
In any case, it should be borne in mind that the current price comparison is based on an extraordinary March 2022, the month after the outbreak of war in Ukraine. increased by 3% at a monthly rate, up to 9.8%.
According to the definitive statistics released by the INE this Friday, the fall in the inflation rate in March is explained above all by the moderation in its prices. electric (down 7.5% monthly), fuels (down 1.4% compared to February) and gas (-2% monthly). Compared to March 2022, electricity prices were 51.8% cheaper than then and fuels were down 13%. However, gas is still 10.2% more expensive.
Food contributed your grain of sand: Although food and non-alcoholic beverages prices increased by 1.1% again compared to February, annual inflation moderated by one-tenth to 16.5%, as the monthly increase was slightly higher (1.2%) in March 2022.
March prices legumes and vegetablesIt increased by 5.7% compared to February (27.8% compared to March 2022). Inflation milk 30.4%; someone’s oil, at 28.1%; someone eggsat 24.5%; someone’s breadat 13.4% and Pork, with 19.6% among other core products.
From the Ministry of Economy, inflation in March is estimated to be almost three times lower than recorded a year ago, and also the lowest since August 2021. After the maximum recorded in February (an annual record increase of 16.6%), food inflation fell (or even a tenth) in March, and electricity prices stand out, which the Administration attributes to the so-called ‘Iberian Solution’.