Business 31/05/2021

Inflation continues to soar and rises to 2.7% in May

It had been four years since such a sharp difference in prices had been recorded

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Fuel and energy continue to push up prices.

BarcelonaThe basket of goods is 2.7% more expensive this May than exactly one year ago. The advanced indicator published by the National Institute of Statistics estimates that this difference is five tenths higher than the same comparison made in April, and places inflation in the State at levels not reached since February 2017.

In this sense, the curve has been growing for four consecutive months. And it does so, it is understood, as proof that consumption has been reactivated, especially if one takes into account that a year ago you could hardly leave home because of the pandemic. In any case, the INE specifies that one of the elements that nest explain this rise of 2.7% is the increase in fuel prices, which a year ago were in plummeting.

The month-on-month comparison of prices also shows increases, although in this case of less magnitude than when the comparison is annual. Prices in May were 0.4% higher than in April, but this implies lowering the growth dynamics of previous months by a few tenths of a percentage point. In April, for example, the shopping basket had risen by 1.2%, and in March, by 1%.

In short, however, the clear idea is that the change in trend and the signs of economic recovery are sealed, especially in comparison with the price falls registered throughout 2020