The Consumer Price Index (CPI) rose four tenths in July in the interannual rate, up to 2.3%, mainly due to the rise in fuel and tourism prices and to the fact that the prices of clothing and footwear have decreased less than they did in the same month of 2022. In a month-to-month comparison -July compared to June-, prices increase one tenth (0.1%).
The rise in gasoline and tourist packages has not offset the comparative drop in the prices of electricity and gas, which became cheaper in July compared to the rise they experienced in the same month last year.
With the advance in July, inflation resumes its rise and puts an end to two consecutive months of moderation. In June, inflation had moderated to 1.9%, one and a half points less than the previous month and the lowest since March 2021, due to cheaper fuel and the moderation in the rise in food, although the latter They are still more expensive than 10%.
Subjacent inflation, which does not take into account the influence of the more volatile prices of unprocessed food or energy products in the statistics, rose three tenths, to 6.2%, standing almost four points above the general CPI.
The leading indicator of the harmonized inflation data (IPCA), which incorporates the convergence of prices with other countries to compile the statistics of the European Union (Eurostat), remained at 2.1% in July, two tenths less than the CPI general.
The advanced data published today by the National Institute of Statistics (INE) will not be confirmed for another two weeks, and may suffer slight upward or downward changes.