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Inflation rises to 3.3% in April due to gas and food

The CPI, the main indicator of inflation, rises one tenth in April to 3.

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Inflation rises to 3.3% in April due to gas and food

The CPI, the main indicator of inflation, rises one tenth in April to 3.3% due to the increase in gas and food prices, while core inflation moderates four tenths and remains at 2.9%, four tenths below the general CPI, which has not happened for almost two years, since November 2022. Compared to March, prices rise by 0.7%.

The interannual rate of underlying inflation, which does not take into account the more volatile evolution of unprocessed food or energy products for the statistics, has been lower since January 2022 and has been declining for nine consecutive months, since July 2023, when the rate It was at 6.2%. General inflation does not show a clear trend, although it does seem to remain with slight ups and downs around 3%.

The INE attributes the year-on-year increase in April mainly to the greater increase in gas prices, compared to the decrease in April 2023, and to the increase in food prices, greater than last year. Also, although to a lesser extent, electricity, whose prices fell, but less than in the same month of the previous year.

The Harmonized Consumer Price Index (IPCA), which is used to prepare international statistics, mainly Eurostar, placed its annual rate at 3.4%, one tenth above the previous month, and rose 0.6% in rate intermonthly.

The CPI registered positive annual rates in all the autonomous communities in April. Where it increased the most was in Galicia (3.7%) and Navarra registered the lowest rate (2.9%) along with the Autonomous City of Melilla (2.5%). The Balearic Islands, Castilla-La Mancha, the Basque Country, Extremadura and Ceuta are also above the national average.

The consumption groups that most influenced the rise in the CPI in April were housing (expenses associated with housing, not the price of the house itself) and food and non-alcoholic beverages. On the other hand, the prices of leisure, tourism and restaurants dropped the CPI.

The annual housing rate rises 2.5 points, to 4.0%, driven by the rise in gas prices, compared to the drop in April of last year. Also, although to a lesser extent, to electricity prices, since the electricity bill drops but less than in April 2023.

Food and non-alcoholic beverages, for their part, place their rate at 4.7%, four tenths above that of last month, due to the increase in the prices of fruits and legumes and vegetables, compared to the decrease in the same month of 2023.

What has risen the most in price is olive oil (68.1%), which has accumulated a rise of 204.8% since January 2021, which means that its cost has tripled in the last three years.

Also notable in April were the year-on-year increases in the prices of fruit and vegetable juices (17.3%), fruits (17.1%), maritime passenger transport (16.8%) and quotas for subscriptions to television channels (15.4%).

On the other hand, what became cheaper in the fourth month of the year compared to April 2023 were other oils (-18.8%); mobile telephone equipment (-10.8%); international flights (-8.6%); personal computers (-7.2%) and pizza (-6.5%).

Leisure and culture, with an annual rate of 2.2%, is reduced 1.6 points below that of the previous month due to the decrease in the prices of tourist packages, which rose in April 2023.

Hotels, cafes and restaurants fell seven tenths, to 4.8%, due to the prices of accommodation services, which rose less than in the same month of 2023.

In one month, what drove the CPI up the most were the prices of fashion, staying for tourism and going to the supermarket, and only the prices of tourist packages fell.

Thus, according to the INE, the prices of clothing and footwear rise by 7.1% with the beginning of the spring-summer season.

Hotels, cafes and restaurants become more expensive by 0.8%, due to the increase in the prices of accommodation services, while the shopping basket becomes more expensive by 0.7%, due to the increase in the prices of almost all its components. , especially fruits, legumes and vegetables, meats and fish and seafood. On the other hand, leisure and culture are cheaper (-0.4%) due to the drop in the prices of tourist packages.

What rose the most in price in the month of April compared to the previous month were children's and baby clothing (11.8%) and hotels, hostels and guesthouses (9%).

Olive oil also became a little more expensive last month, specifically by 1.5%. What became cheaper were national tourist packages (-7.6%).

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