Inflation climbs to 6.7% in December, the highest rate in 29 years

The index rose 1.3% in December and is the highest figure since March 1992. In the inter-annual behavior, the rise in electricity prices stands out.

At the national level, the Consumer Price Index (CPI) rose 1.3% in December in relation to the previous month and shot its annual rate up to 6.7%, more than two points above the November rate (5.5%) and its highest level in 29 years, due to the rising cost of electricity and, to a lesser extent, food.

With the December data, highest since March 1992, the interannual CPI chains its twelfth consecutive positive rate, according to advanced data published by the National Institute of Statistics (INE).

This is the largest monthly rise in inflation in a month of December since 1983.

In the year-on-year behavior, the rise in electricity prices, higher in December of this year than in the same month of 2020, and, to a lesser extent, of the food, whose prices fell last year.

You may also like

Immediate Access Pro