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The general indicator moderates almost one point compared to last month, when the CPI rose to 4.1%, with the rise in food prices at 12.9%.
The underlying inflation rate, which excludes from the calculation the most volatile fluctuations in the price of unprocessed food and energy products, also eased, in this case half a percentage point, to 6.1%.
The inflation registered for May is the lowest registered since July 2022, both the general indicator (2.9%) and the core indicator (6.1%).
The INE attributes the moderation to the fact that the prices of electricity and fuel fell in May, compared to the increase they experienced in the same month last year, and to a lesser extent, to a lower rise in the price of food and alcoholic beverages compared to a year ago.
Regarding the month-on-month evolution (consumer prices in May compared to April prices), the CPI fell by 0.1% after three consecutive months of monthly increases, the first fall in inflation in a month of May since 2017, when it also fell 0.1%.
The Harmonized Consumer Price Index (IPCA), which is used to compile international statistics, remains at 2.9%, nine tenths below that registered in the previous month, and in a month-on-month comparison it falls two tenths (-0 ,2%).
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