Inflation returns and rises to 8.7%

BarcelonaThe Consumer Price Index (CPI) rose by 0.8% in May compared to April, and the year-on-year rate increased by four tenths to 8.7%. This is due to the rise in fuel and food prices, according to advance data published on Monday by the National Statistics Institute (INE).

Thus, inflation has resumed its upward trend this May after dropping 1.5 points in April to 8.3%. The May figure, which will be confirmed in about a fortnight, is 1.1 points below the March peak, when CPI reached 9.8%, the highest rate in almost 37 years.

According to the INE, the year-on-year CPI rise to 8.7% is mainly due to increases in the prices of fuel, food and non-alcoholic beverages. On the other hand, electricity prices have fallen compared to the upturn recorded in the same month last year.