Inflation rises to 3% in February due to rising electricity prices

BarcelonaInflation climbs by one-tenth in February, and the annual rate stands at 3%, according to the data from the advanced consumer price index (CPI) published this Thursday by the National Institute of Statistics. According to the INE, the reason for the rise is the rise in electricity prices - affected by the return of VAT on electricity to the original rate of 21% from the beginning of 2025 - compared to the fall in fuel prices and the moderation of oil prices. As for monthly inflation, it stands at 0.4% compared to January.

However, underlying inflation, which does not take into account the most volatile products, such as fresh food or energy products, continues to decline. In February, it fell by three tenths to 2.1%, when in January it stood at 2.4% on an annual basis, and is increasingly closer to the European Central Bank's (ECB) target of 2%.

In this way, underlying inflation is at its lowest rate in the last three years, since December 2021, and has been falling for two consecutive months.