The CPI rises to its highest rate since 2012 due to the rise in electricity prices




The National Institute of Statistics (INE) confirmed this Tuesday that the Consumer Price Index (CPI) rose to 3.3% in August compared to the previous year, mainly due to the increase in the price of electricity and registered its highest rate since September 2012.

According to data published by Statistics, the annual rate of 3.3% is four tenths higher than that registered the previous month.

The rise is influenced by housing, which grew by 11.5%, more than two points above the July rate due to the increase in electricity prices; for food and non-alcoholic beverages, which registered a rate of 1.9%, two tenths above that of July, due to the rise in fruit prices, and for transport, with a rate three tenths higher, up to 8.8%, due to the increase in car prices and fuel and lubricants.

Core inflation, excluding non-processed food and energy products, increased by one tenth in the annual rate, to 0.7%, which is more than two and a half points below that of the general CPI. This is the highest difference between the two rates since the beginning of the series, in August 1986.

In monthly evolution, the general CPI stood at 0.5% in August, compared to the 0.8% drop in July.

By autonomous communities, the annual CPI increased in all regions in August compared to the annual rate in July.

The largest increase corresponded to the Canary Islands, with a rise of six tenths. On the other hand, Catalonia, Castilla y León and Comunidad Foral de Navarra registered the smallest increases in their annual rates, with a rise of three tenths in all of them.

Regarding the Harmonized CPI (HICP), this indicator stood at 3.3% in the annual rate, four tenths above that registered the previous month, and its monthly variation was 0.4%.

The CPI at Constant Taxes was higher, standing at 3.6% in annual rate, three tenths above that registered by the general CPI, and at 0.5% in monthly variation.

For its part, the HICP at Constant Taxes presented an annual rate of 3.6%, three tenths more than that of the HICP, which was 0.5% in monthly rate.

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