Inflation shoots up to 6.1% in February with a price rise of 1% in a single month

• Three out of every ten goods we consume already have double-digit inflation

Inflation

rose to

that compared to the same months last year, prices are rising more and more.

In addition, in a monthly rate, if we compare

which shows that families have to deal with more expensive labels every day.

According to the data advanced this Tuesday by the National Institute of Statistics (INE),

- which does not take into account the most volatile elements of the consumption basket, that is, fresh food and energy products -

than in February 2022, something worrying that points to a general contagion of price increases.

The INE changed its methodology to calculate the Consumer Price Index (CPI) last month, including for the first time the evolution of the prices of the

and changing the

of the goods and services that we consume with respect to the total of our expenses.

With these modifications fresh out of the oven, the CPI rose 5.9% year-to-year in January and core inflation rose 7.5%.

In monthly terms, both fell two tenths.

By introducing these changes last month, the CPI that is published in these months is not entirely comparable with that of 2022, since different elements are compared, hence the

to see how prices fluctuate in the country.

In February, it rebounded by 1% compared to January, confirming the acceleration in prices.

This is the

, when prices shot up 1.9% in just thirty days.

The data has come as a surprise

, since some analysts, such as

, had predicted that in February the general CPI would rise by

-two tenths less than in January-, while they placed underlying inflation at

-one tenth below-.

Even so, they forecast a price increase of 0.6% in February compared to January, and of 0.5% in the core.

As explained by the INE, the evolution of inflation in February is due to the fact that

compared to the decrease registered in February 2022, since

than in February 2022. last year. In the opposite direction, the drop in the prices of fuels and lubricants stands out, which increased in February 2022, and combined passenger transport, compared to the stability of the previous year".

More arguments for the ECB

The most worrying thing about the household consumption basket is

, which does not stop rising despite the fact that the Government has implemented measures such as lowering VAT on certain basic products.

To find out how they behaved in February, we have to wait for the INE to confirm the data published today and extend the data in the middle of the month, but given the evolution of inflation, it is foreseeable that they have continued on their upward path.

The high inflation in Spain, despite being the most moderate in the European Union,

to

another

at its

and to to postpone until May the announcement that it will put the foot on the brake on the tightening of monetary policy.

The ECB is making use of its instruments to try to contain inflation, but for the moment

.

What they have caused is an

which is expected to end February this Tuesday at

, the highest value since November 2008. Due to this significant rise, the installments of variable-rate mortgages review soon will experience an average increase of about

(more than 3,500 euros per year), according to experts.

According to the criteria of The Trust Project

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• INE

• European Union