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The annual variation rate of the Consumer Price Index (CPI) for the month of August stands at 2.6%, three tenths above that registered in July. The annual rate of core inflation, which does not take into account the more volatile variation in the price of fuel and medicines, decreases by one tenth, to 6.1%. Compared to July, prices rose 0.5% in one month, their third consecutive monthly increase.
The interannual rate of the Harmonized Consumer Price Index (HICP), which is used to create the average to compare international statistics, mainly Eurostat, places its annual rate at 2.4%, also three tenths more than the previous month, according to the interannual inflation data advanced on August 30 and confirmed today by the National Institute of Statistics (INE).
The rise in general inflation is mainly due to the increase in the prices of fuels and lubricants for personal vehicles, that is, automobiles. The price of gasoline rises by 7.2% in just one month, although filling the tank is still cheaper than a year ago as the 20 cents per liter bonus approved by the Government remains in force.
The general CPI has also been driven upward in August by the increase in the cost of tourist and restaurant packages typical of the summer season.
Meanwhile, inflation of food and non-alcoholic beverages continues at 10.5%, three tenths less than in July after the price of basic foods such as milk, cheese and eggs moderated compared to the skyrocketing increase last summer. Fruits and vegetables are also somewhat cheaper and meat, bread and cereals also rise less compared to August 2022.
Compared to the previous month, shopping basket prices increased by 0.2%, due to the increase in the cost of oils and fats, legumes and vegetables and, to a lesser extent, fish, seafood and meat.
They also put downward pressure on the prices associated with housing (expenses, mainly the electricity bill), which fell again in August and are already 18% below those of a year ago, thanks to the rise in Electricity prices are lower than those registered in the same month of 2022.
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