Inflation continued to slow down in Spain in December, standing at 5.8% annually, one point less than the previous month, according to a first estimate published this Friday by the Statistics Institute (INE).
If this figure is confirmed next month by the INE, it would mean a spectacular drop of five points from the maximum of 10.8% reached in July, which was a record since the start of the statistical series some 38 years ago, and the fifth monthly. decrease in a row.
In its press release, the INE explains this new drop by the fact that electricity prices have increased “less than in December 2021” and that fuel prices “register a greater drop” than that of the corresponding month. from last year.
Cancellation of VAT on essential products
On the other hand, prices fell less than in December 2021 in the clothing and footwear sector, while those of processed foods and tobacco increased, without specifying the amount of the increase.
The Spanish Government adopted measures on Tuesday to help the poorest households to cope with the continuous rise in food prices, the main ones being the abolition of VAT on basic necessities and the reduction in half of oil and paste (from 10% to 5%).
The harmonized consumer price index (IPCA), which allows comparison with other countries in the euro area, stood at 5.6% in December, that is, “more than one point less than that registered the previous month” .
For its part, core inflation, which does not take into account certain prices -such as energy prices- and is corrected for seasonal variations, experienced a new increase to stand at 6.9% in one year (compared to 6.3 % in November, when it had already increased by 0.1 point).
Source: BFM TV
