The CPI falls to 5.7% in December 2022

Euskaraz irakurri: KPI % 5.7ra jaitsi da 2022ko abenduan

The Consumer Price Index (CPI) rose two tenths in December in relation to the previous month and cut its interannual rate by 1.1 points, up to 5.7%its lowest number since November 2021, according to the final data published this Friday by the National Institute of Statistics (INE). The data reduced by one tenth the one advanced by the agency at the end of last month, when it pointed to an interannual CPI of 5.8% and a monthly rise in prices of 0.3%.

This has not been the case in the case of the Underlying inflation (without unprocessed food or energy products), where the INE has raised its initial estimate of 6.9% by one tenth. Thus, the underlying CPI finally closed December in the 7%a rate seven tenths higher than that of November and the highest since November 1992.

With this data, core inflation exceeds the general index for the first time since February 2021 and opens a gap of 1.3 points with it. 2021 closed with inflation of 7.1%.

According to the INE, the moderation of the year-on-year CPI in December is mainly due to the price drop of fuels and diesel for heating and the fact that electricity rose in December 2022 less than it did in the same month of 2021.

The prices of the foodson the other hand, grew in December a 15.7% In the interannual rate, four tenths more than in November and its highest rate since the beginning of the series, in 1994.

Within food, the ones that have risen the most in price in the last year are sugar (+50.6%); the oils and fats (+38.1%); the milk (+37.2%); the eggs (+29.8%); the dairy products (+23.4%); the cereals (+22.7%) and the potatoes (+22.6%).

as far as Basque Country regards, the CPI increased a 0.1% during the month of December in relation to the previous month and shot up its interannual rate up to 5.4%according to INE data.