Inflation dropped to 7.4% in March, down 0.8% from last month. The results are presented by the National Statistical Institute (INE). These are preliminary values.
“This slowdown is partly due to the base effect from higher fuel and food prices confirmed in March 2022,” the report said.
Core inflation – the overall index that excludes raw food and energy – will hover at 7%, down 0.2 percentage points from February.
The statistics also indicate a change in the energy index, which will also decrease, “from 1.9% in February to -4.4%”, you can read. In the case of foodstuffs, the registered rate was 19.3%.
The change in the consumer price index (CPI) was higher than in the previous month. With a rate of 1.7% for registration, different from 0.7% in February.
According to the report, “the average change over the past twelve months is estimated at 8.7%.”
Final data relating to the March 2023 IPC will be released on April 13, INE confirms.