The

prices

continue their climb in October and are already

a 5.5% higher

than they were a year ago, representing the largest annual increase in 29 years, since September 1992, according to

Price Index Consumption (CPI)

this month advanced this Thursday by the National Institute of Statistics (INE).

This means that the

rise in prices of goods and services

continues to accelerate, since in September the rise in prices registered compared to the same month of the previous year was 4%.

In addition to the

base effect -

caused by comparing the data with a period in 2020 in which prices fell due to the effect of the pandemic - the rise in the CPI is explained by the increase in

electricity

prices

and, to a lesser extent, by

gasoline and gas

, which were down last year at the same time.

The

core inflation

, which does not take into account the price of

food

and of

energy products

to be more volatile- also recorded an even more moderate increase in the

1.4%.

The INE points out that since August 1986 there has not been such a high difference between the two indicators, which reflects the disproportionate increase in energy prices and

the shopping basket

compared to other products and services.

In monthly rate, prices are 2% higher than in September.

According to the criteria of The Trust Project

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