The consumer price index (CPI) increased by 0.8% in March compared to the previous month and increased its interannual rate by four tenths, up to 3.2%due to the increase in the cost of electricity and fuelaccording to data published this Wednesday by the National Institute of Statistics (INE), which highlights that, on the contrary, prices of food increased less in March as the same month of 2023.

With the increase in the interannual CPI in the third month of the year, inflation recorded increases again after the drop of six tenths in February which brought inflation to 2.8 %, its lowest level since August 2023.

March’s rebound, which has not yet been confirmed by statistics, also brings the CPI back to rates above 3% after falling below that level last month when it was then above this percentage for five consecutive months.

The INE includes in the CPI data overview an estimate of core inflation (excluding unprocessed food and energy products), which fell by two tenths in March, up to 3.3%rate one tenth higher than the general CPI.

In monthly terms (March compared to February), the CPI rose by eight tenths, recording its third consecutive monthly increase and the most pronounced since February 2023, when it increased by 0.9%. The INE will publish the final data next April 12.

By wbu4c

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