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The CPI increased one tenth to -0.4% in September but its sixth month was negative

The Consumer Price Index (CPI) rose 0.2% in September in relation to the previous month and increased its interannual rate by one tenth, to -0.4%, compared to -0.5% August, mainly due to the rising cost of electricity Since the prices of tourist packages fell less than a year earlier, the National Institute of Statistics (INE) reported this Wednesday, thus confirming the data advanced at the end of last month. 

With this advance of one tenth, the year-on-year CPI chains two consecutive months of promotions. Furthermore, with the September data, inflation has been at negative rates for six months. 

The statistical agency has attributed the increase in the interannual rate of the CPI to the rise in electricity prices, compared to the decrease they experienced in September 2019; to evolution of the prices of tourist packages, and the increase in food prices, especially legumes and vegetables. 

On the contrary, the INE highlights the lowering of fuel for personal transport, air transport for passengers and accommodation services, which were greatly affected by the health crisis. 

The INE recalls that, after the end of the alarm state, all IPC products are available for purchase by households. Statistics continued the face-to-face collection of prices in September, keeping the collection by telematic means when, for health security reasons, it is not possible or convenient to do it in person. 

In the ninth month of the year, the Harmonized Consumer Price Index (HICP) placed its interannual rate at -0.6%, the same as in August. 

Core inflation, which excludes unprocessed food and energy products, remained at 0.4% in September, eight decimals above the general CPI. 

In monthly terms (September over August), the CPI rose 0.2%, compared to the stagnation in August and the fall of nine tenths experienced in July. 

What increased the most in price in September in relation to the previous month were other clothing items such as gloves and scarves, 15.2%, and men’s clothing (+ 8.7%), while what fell the most were national tourist packages (-24.7% in relation to the previous month). 

Rise of the light 

According to the INE, the evolution of the interannual CPI in September was the consequence of the rise in the housing group by more than one point, to -1.4%, due to the rise in electricity prices; the rise in the leisure and culture group at one point, to -1.1% due to the behavior of tourist packages; and the rise by two tenths of the food group, up to 2.4%, especially due to the rise in prices of legumes and vegetables. 

On the contrary, the transport group cut its interannually rate by six tenths, to -5%, due to lower fuel prices for personal transport and the prices of passenger air transport, while the group of Hotels, cafes and restaurants experienced a two-tenth drop in their year-on-year rate, to 0.3%, due to the fact that accommodation services lowered their prices more than they did in September 2019. 

In the last year, what has risen the most in price are the jewelry and costume jewelry (+ 16.7%); the Fresh fruits (+ 11.4%); computer accessories (+ 10.9%); maritime passenger transport (+ 9.7%), and sugar(+8,9%). 

On the contrary, what has become cheaper since September 2019 have been liquid fuels (-30.4%); hotels and hostels (-19.6%); international flights (-18%); diesel (-13.9%), and mobile phone equipment (-11.1%). 

By regions 

The annual rate of the CPI increased in September in 13 autonomous communities, remained in Andalusia, Madrid and La Rioja and fell in the Canary Islands, with a decrease of two tenths. 

The biggest increases, of three tenths, corresponded to Asturias, Catalonia and the Valencian Community. 

At the end of September, only two autonomous communities showed a positive annual CPI: Canarias (0.3%) and Extremadura (0.1%). The rest had negative rates, especially Navarra and La Rioja, both with -0.7%. 

 

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