The leading indicator of the Consumer Price Index (CPI) corresponding to the month of July showed a fall of 0.6% compared to the same month of 2019, three tenths below the indicator of June, due to the drop in tourism prices and hospitality and food.

According to data published by the National Statistics Institute (INE), if this record of -0.6% is confirmed, it would mean a decrease of three tenths in its annual rate , since in June it registered a drop of 0.3%. With the fall in July, the annual CPI adds up to four months in negative territory.

The evolution of July was marked by the drop in tourism and hospitality prices , compared to the rise in 2019, and, to a lesser extent, in food , whose prices decreased this month more than the previous year. Conversely, the rise in the prices of fuels and lubricants stands out, higher than that registered last year.

For its part, the annual variation of the leading indicator of the Harmonized CPI (IPCA) stood at -0.7% in the month of July. If this data is confirmed, the annual rate of the IPCA would decrease four tenths compared to the previous month.

In monthly evolution , consumer prices registered a fall of 0.9% in July compared to June. The HICP fell 1.6%.

The INE reflects specific aggregations of basic consumer products in the household confinement situation to offer specific information on the effects of the coronavirus . The 'Covid-19 special goods group' includes food, beverages, tobacco, cleaning and non-durable household items, pharmaceuticals, pet food and personal care items.

These products experienced a year-on-year growth of 1.8% , decreasing five tenths compared to that of June.

The section that stands out the most for its importance in this aggregation is food and non-alcoholic beverages, whose annual rate decreased six tenths, to 2.2%. Fresh foods registered an annual rate of 3.1% , one point below that of June, while packaged foods placed their rate at 1.7%, three tenths less than last month.

For its part, the 'special group services Covid-19' contains the services of renting a house and garage, water distribution, sewage, garbage collection, community expenses, electricity, gas, diesel for heating, telephone services, music and streaming television, insurance, bank fees and funeral services. This group experienced a decrease of 3% in July, six tenths below that registered in June.

According to the criteria of The Trust Project

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