According to the projections, “this month the peak in the increases in annual terms would have been reached and then begin to descend in a slow but sustained manner,” the operators maintained. While the Central Bank projects an annual CPI of 12% for December 2022.
In the breakdown of the figure, the INE explained that the division of Food and non-alcoholic beverages was the one with the highest monthly incidence. AIn addition, he posted monthly raises in ten of his eleven classes. The most important was meat followed by bread and cereals.
Of the 76 products that make up the division, 59 presented increases in their prices, the most relevant being beef (+3.6%), followed by bread (+3.3%). Transportation was the second division with the highest weight in the month and recorded monthly increases in six of its ten classes.
Fuels and lubricants for personal transport vehicles had the greatest impact with a rise of 4.7%, followed by spare parts and accessories for personal transport vehicles (+6.9%). Thus, of the 24 products that make up the division, 18 registered increases in their prices, highlighting gasoline (-4.6%), followed by diesel oil (-5.4%).
In third place was Housing and basic services, which registered monthly increases in six of its nine classes. Of the 16 products that make up the division, 12 recorded increases in their prices, highlighting rent (+0.9%) and drinking water (+2.2%).
By products, gasoline was the one that had the most impact with a monthly increase of 4.6%. In the year it accumulates a rise of 27.7% and 38.7% to twelve months. Beef came in second position with an increase of 3.6%. So far this year, it registers a rise of 14.9% so far this year and 27.1% at twelve months.
In third place is bread with a monthly rise of 3.3%, accumulating 25.8% so far this year and 32.8% twelve months.
Given the worrying escalation of inflation, the Central Bank decided on Tuesday to raise the interest rate by 100 basis points to 10.75%. The issuing institute projected that inflation will remain high for next year and that only in 2024 will it return to values closer to the goal, between 3% and 4%.
Source: Ambito
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