This is how the INE measures the IPC: 200 officials visit the same stores throughout Spain every month
The
inflation
problem that has plagued the country since the middle of last year continues to worsen as the months go by and the approved measures fail to contain price increases.
The
Consumer Price Index (CPI)
registered an
interannual increase of 8.7% in May
, according to the data advanced this Monday by the INE, which means that it accelerated four tenths since April and abandoned the downward path that it seemed to have embarked on .
This means that prices in the country are 8.7% higher than they were in May 2021, and that they rose more in year-on-year terms than they did in April when the CPI registered levels of
8.3%
.
After the
March peak of 9.8%,
analysts expected price increases to gradually ease thanks to
the base effect
-compared to months last year when prices were already higher- and the measures
applied
to alleviate increases -such as the discount on fuel-, but these have not served for the time being to
moderate the increases in the indicator.
In addition, in May the
contagion of price increases
to the entire shopping basket worsened.
Core
inflation
- which excludes the price of energy and fresh food as they are the most volatile elements - soared
4.9%,
the highest rate since
October 1995.
In April, it had risen
4.4%
and already more than half of the goods that make up the shopping basket rose above 4%.
The data advanced this Monday by the INE and which must be confirmed in mid-June is
much more negative
than what economists such as those from the Savings Banks Foundation (
Funcas
) had done for this month, who predicted an increase in the
CPI of 7.6% and 4.6% for core inflation.
Conforms to The Trust Project criteria
Know more
INE
Inflation