This food inflation It fell in April and recorded the first outage in 15 months, but still remains at 12.9%. Consumer price index (IPC), released this Friday. Overall, as announced by INE on April 28, CPI increased by six-tenths in April from March, leaving the annual inflation rate at 4.1%. So-called core inflation, which excludes the most volatile prices energy and eat Unprocessed products fell almost one point month-on-month to 6.6% from 7.5% in March.
Food inflation, which has been rising almost continuously since January 2021, fell 3.5 points to 12.9% in April (compared to a peak of 16.6% recorded in February). The VAT reduction in some food products, which started on January 1, and the fall in energy prices in recent months are beginning to reflect clearly on food inflation at a time when drought threatens to raise fresh product prices again. Food inflation has been above 10% since April 2022.
According to the INE, the development of the consumer price index (CPI) in April is mainly the result of the fall in electricity prices being less than that recorded in April 2022 and the increase in fuel prices that fell in April 2022. Last year, a 20 cent discount per liter of fuel was introduced. On the opposite side, the development of food and non-alcoholic beverages stands out, with prices increasing less this month compared to April 2022, where prices increased by 3.4% on a monthly basis.
If an unlucky comparison March 2022 -after the outbreak of war in Ukraine- supported the sudden drop in inflation from 6% (February) last month to 3.3% (March); on this occasion, the so-called ‘step effect’ played against April and turned into a rebound in rate.