this inflation May closed definitively at the 8.7% annualized rate that the National Institute of Statistics had predicted a few days ago, an 8.3% increase from the previous month.
Consumer price index (CPI) increased by 0.8% compared to April. fuels, despite a 20 cents discount per liter for all users; and the food and essential items of the shopping cart bread, cereals, milk, cheese, eggs and meat. It also experienced a strong increase, the largest since August 2001. hotels, cafes and restaurantsAccording to INE data.
The data confirms this. increase in prices is widespreadSince it has also been confirmed that Core inflationExcluding the most volatile elements such as energy and unprocessed food, it rose to 4.9%, the highest level since 1995. food and non-alcoholic beverages, up 11% year-on-year A level unreachable since 1994.
Excluding fuels, the increase in shopping cart components stands out with a monthly increase of 5.8%. fruits, with a monthly increase of 5.2%; Bread and cereals with 2.2% and milk, cheese and eggs with 2.5%. Meat also rose 1.2 percent and fish and shellfish, 1.4%. This evolution is directly related to the effects of the war in Ukraine.
Increase on a monthly basis gasoline and diesel (8.6% and 3.8%), also oils for food6.8% and las flours and cereals3.6% or Fruit 5.9%. this electricon the contrary, it fell 3.1%.
In any case, the effect of the price increase in the shopping cart is determined in the annual rate data. about last year olive oil increased by 36.5 percent gasoline and diesel It has become 23% and 33% more expensive, electric30%, food paste27.9%, flour and eggs25% and whole milk16.7%.
The annual rate of CPI increased from April in all autonomous regions, except for Navarra and Aragon, where it fell by two and a tenth, respectively. The biggest increases were in Murcia and Extremadura Region, with 1 and 0.7 percentage points respectively. The evolution in the CPI, which reached its highest level of 9.8% in March, forced the European Central Bank (ECB) to initiate a monetary policy change that would lead to a 0.25 increase in monetary policy. The first score since 2011 is in July. And that will be followed by another in September and a phase of “gradual but continuous” increases.
What started as higher energy and fuel prices has spread to the economy as a whole. This is indicated in daily expenses and in the shopping cart. It also puts pressure on unions to demand a salary increase when the revenue deal requested by the Government fails. In addition to fees, this agreement should include limiting margins and trading profits to avoid a spiral of price increases.