Monday, August 8

Inflation rose in June to 10.2%, its highest level in 37 years

The National Statistics Institute (INE) confirmed this Wednesday that the Consumer Price Index (CPI) shot up 10.2% in June, rising to the highest level in the last 37 years. The annual variation rate of core inflation (general index excluding unprocessed food and energy products) increased six tenths, to 5.5%. It is the highest rate since August 1993 and places its difference with the general CPI at more than four and a half points.

With the rebound in June, inflation has chained two consecutive months of rises in its year-on-year rate after it moderated in April by 1.5 points, to 8.3%. Later, in May, it climbed to 8.7% and in June it exceeded the feared double digits.

According to the INE, the rise in the year-on-year CPI to 10.2% in June is mainly due to increases in fuel prices, fuel for heating, electricity, restaurants and hotels, and of food.






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