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The CPI stands at 5.8% in January and core inflation rises to 7.5%

The advance data of the CPI for January is one tenth above that of December. With this rise, year-on-year inflation breaks five consecutive months of declines.

Euskaraz irakurri: KPIa hamarren bat hazi da urtarrilean, % 5.8 raino, eta azpiko inflazioa % 7.5eraino igo da

The Consumer Price Index (CPI) has rebounded to 5.8% in January compared to the same month last year, according to advanced data from the National Institute of Statistics (INE). Year-on-year inflation was 5.7% in December, one tenth less than in January.

Thus, year-on-year inflation breaks with five consecutive months of declines and resumes its rise. After reaching its peak in July (10.8%), in August it fell three tenths, to 10.5%; in September it decreased 1.6 points, to 8.9%, in October it fell 1.6 points, to 7.3% and in November it cut its interannual rate by half a point, to 6.8%, and in December dropped to 5.7%.

In monthly terms, from December 2022 to January 2023, prices have fallen three tenths.

The advance data for January must be confirmed by INE in the middle of next month.

According to the INE, the rise in the year-on-year CPI is mainly due to the increase in fuel prices, since the prices of clothing and footwear have fallen less at the start of this year than they did in January 2022. On the other hand, the Electricity prices have fallen more in January 2023 than last year.

Core inflation increases five tenths to 7.5%

Subjacent inflation, which does not include unprocessed food or energy products, has increased five tenths, up to 7.5%.

Source: Eitb


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