June 15, 2021

The INE confirms the rise in the CPI in April to 2.2%, its highest rate in more than two years, due to electricity and fuels


The Consumer Price Index (CPI) rose 1.2% in April compared to the previous month and placed its interannual rate at 2.2%, nine tenths above that of March (1.3%), according to the data published this Friday by the National Institute of Statistics (INE), confirming the advanced data at the end of last month.


The Bank of Spain advocates changing the inflation target of 2% to give more room to monetary policy

The Bank of Spain advocates changing the inflation target of 2% to give more room to monetary policy

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With this rebound, with which the annual CPI chains its fourth consecutive positive rate, inflation climbs to levels unknown for more than two years. In fact, such a high CPI rate had not been reached since October 2018, when it stood at 2.3%.

The sharp increase in prices in April has been mainly contributed by the rise in electricity prices and the maintenance of fuel prices, in contrast to the drops in April 2020. On the other hand, in April fruits and packages became cheaper tourist

In a monthly rate (April over March), the CPI shot up 1.2%, its highest monthly rebound in nine years, specifically since April 2012.

For its part, core inflation (excluding non-processed food and energy products) placed its interannual rate in April at 0.0%, three tenths less than in March and a rate more than 2 points lower than the general index. This is the largest gap between the underlying and the general rate since August 1986.

In the fourth month of 2021, the Harmonized Consumer Price Index (HICP) increased its interannual rate eight tenths, to 2%, while it rose 1.1% in the monthly rate.

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