Categories: Economy

Inflation moderates to 3.1% in December after the rise in food prices slows

Prices rose 3.1% in December, one tenth less than in November, due to the stability of the prices of food and non-alcoholic beverages, and the evolution of electricity.

The Consumer Price Index (CPI) did not experience any variation in December in relation to the previous month and cut its interannual rate by one tenth, up to 3.1%Due to the price stability for food and non-alcoholic beveragescompared to the increase in the last month of the previous year.

On the other hand, fuel prices decreased, but with less intensity than the previous year, while electricity has also had an influence, whose prices increase less than in December 2022, according to data released this Friday by the National Institute of Statistics. (INE).

With the moderation of its interannual rate in December, inflation once again registered declines and fell to its lowest level since last August, when it stood at 2.6%.

The INE incorporates in the CPI data preview an estimate of underlying inflation (without unprocessed food or energy products), which in December fell seven tenths, to 3.8%, a rate 0.7 points higher than the CPI overall and the lowest since March.

Source: Eitb

Tifany

I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.