Funcas lowers one tenth, to 9%, the average annual inflation rate forecast for this year

For 2023 it forecasts 4.8%, without changes compared to the previous one, although the underlying is reduced to 4%

MADRID, 14 Oct. (EUROPA PRESS) -

The Savings Banks Foundation (Funcas) has revised downwards the expected average inflation rate for 2022 to 9%, compared to the previous 9.1%, while it has cut the year-on-year rate for December by two tenths, to 8, 4%.

In the central forecast scenario, with oil at around 90 dollars, a 20% increase in the price of electricity until the end of the year and then stabilizing at that level, and lower-than-expected results in most of the components of the index in September, Funcas has slightly cut its estimates for the year 2022.

The Consumer Price Index fell by 0.7% in September, after the fall registered in August, which has reduced the year-on-year inflation rate by 1.6 percentage points, to 8.9%. Core inflation fell two tenths, to 6.2%.

As explained by the Foundation, except for processed and unprocessed foods, inflation has moderated for most components, highlighting energy inflation, which was reduced to 22.4% thanks to the drop in the price of electricity and fuels and fuels.

On his side, according to the forecasts published this Friday by Funcas, for 2023 the expected average annual rate is 4.8%, unchanged from the previous estimate, although the underlying rate is reduced to 4%.