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Food registers the smallest increase in 2 years despite the CPI tightening in March

Date: July 12, 2024 Time: 17:56:37

One of lime and one of sand in the inflation data for the month of March. The general CPI rate rose four tenths last month to 3.2% year-on-year after returning the VAT rate on electricity to 21%. The Government kept it reduced for three years to deal with the effects of the energy crisis on household bills. At the same time, food and non-alcoholic beverages rose on average by 4.3%, their lowest rate in more than two years, since November 2021.

The shopping basket has been one of the main headaches for households over the last two years and the data published this Friday by the National Institute of Statistics (INE) now confirms that its rate has been reduced more than twelve points in the last year alone.

Core inflation, which excludes energy and fresh food from its calculation and tends to reflect more structural price tensions, continues on the path of moderation, having gone from 3.4% to 3.3%.

Prices rose last month in all autonomous communities and cities, although with different intensity. Melilla registered the smallest increase (2.7%), along with La Rioja (3%), while the sharpest rebound occurred in Extremadura (3.6%) and in the Canary Islands and Galicia (3.5%).

The Government positively values ​​the data. From the Ministry of Economy, these continue to reflect the capacity of the Spanish economy to make the Greater Growth Among the countries of the euro zone compatible with the unification of the countries and the maintenance of support for the most vulnerable.

“The purchasing power of families and the competitiveness of Spanish companies continue to improve,” they maintain. In relation to the latter, the harmonized inflation rate (CPI), which is the reference used by Eurostat to make comparisons between countries, stood at 3.3%, four tenths above that registered the previous month.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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