Spain
The year-on-year inflation in Spain was 0.3 percentage points lower than that registered in July, until now the maximum of this inflationary period. The setback of some elements was due to the reduction in fuel prices
The food and non-alcoholic beverages increased by 13.8% against the same month last year, 3 tenths above the rate of the previous month, which places them in their greatest variation since 1994. Edible oils led the rise with 71%, followed by flour (39%).
Germany
In August, prices in Germany advanced by 7.9% year-on-year, against the 7.5% registered in July. Then, he had recorded a decline of 0.1 percentage points against June, when he scored 7.6%. In comparison with the previous monthprices increased 0.3%. Energy prices were the ones that most promoted the rise with 35.6% year-on-year, while food prices did the same by 16.6%.
“Increases in prices of energy products and food continue to be the main causes of high inflation. Two measures of the aid package in particular had a slight dampening effect on general inflation from June to August 2022: the 9 note euros and the discount on fuel,” says George Thielpresident of the Federal Statistical Office.
The home energy was the one more rose: gas for heating increased by 111.5%, while natural gas did so by 83.8%. Electricity, for its part, increased by 16.5%.
The removes taxes on fuels and the introduction of the 9 euro bill influenced the reduction in transport prices, which registered a 3.7% rise in August, after having reached its maximum in May of this year when it recorded a 16.3% rise. In July, taxes on electricity were also abolished.
If the prices of the Energy, inflation would be 4.7%. The pressure on prices adds energy occurs in a context of tension between the G7 and Russia by the ceilings that the block of countries wants to set on Russian oil. The United States said that it will apply sanctions to those who do not respect this cap, while Russia threatens to cut off all supplies if the measure is insisted on.
For its part, if food and energy inflation are discounted, the general rise was 3.5%. within the foods, those that increased the most were fats and oils (44.5%), followed by dairy products and eggs (26.8%) and meat (18.6%). Bread and cereal products increased 17.1%.
Source: Ambito
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