Inflation stood at 3.2 percent in November, three tenths below the rate recorded in October. Advanced Consumer Price Index published this wednesday National Institute of Statistics. Data put forward by INE, which will not be final until next December 14, predicts a 3.8% increase in contributory pensions because this is the rounded average of 12 linked inflation rates. From December 2022 to November 2023 (resulting in an average of 3.7666%).
The projected 3.8% increase in pensions in 2024 is slightly below the Government’s initial forecast (around 4%) and is less than half the 8.5% increase in these benefits from January 2023, after the 2022 financial year when inflation subsides. reached 10.8%, the highest rates in four decades.
A 3.8% increase in the total 10.1 million contributory pensions, budget impact approximately 6.4 billion This means an increase of around 52 euros per month in the average pension, which stood at 1,377 euros this month in November.
Consumer Price Index (CPI) for November according to INE fell to four tenths compared to the October price level, thanks to the softening of prices electricity, fuel and food. The 0.4% monthly decline in CPI in November made the reduction possible annual rate Inflation is at 3.2 percent. Call Core inflationExcluding the most volatile prices of unprocessed food and energy, the index confirms the downward trend and stands at 4.5% (seven-tenths of 5.2% in October and the lowest rate since April 2022).
November CPI advance data from the perspective of the Ministry of Economythats a very good new“. With this, “ fees According to the department headed by first vice president Nadia Calviño, “They continue to gain purchasing power and Spanish companies continue to gain competitiveness by increasing their market share, even in the difficult international context.”