The CPI rises one tenth in April, to 3.3%, due to energy and food, and core inflation falls to 2.9%

MADRID, 29 Abr. (EUROPA PRESS) -

The Consumer Price Index (CPI) rose 0.7% in April compared to the previous month and raised its interannual rate by one tenth, to 3.3%, due to the rise in gas and food prices, according to the data advanced this Monday by the National Institute of Statistics (INE).

Specifically, the organization has explained that gas prices rose in April, compared to the decline they experienced in the same month of 2023, while food prices registered a greater rebound than a year before.

The rise in the year-on-year CPI has also influenced, but to a lesser extent, the smaller decrease in electricity prices compared to that experienced in April 2023, Statistics added.

On the other hand, the organization points out that prices for leisure and culture fell in April of this year, compared to the rebound they registered in the same month last year.

With the increase in the interannual CPI in the fourth month of the year, inflation is chaining two consecutive months of increases after the four tenths in which it rose in March.

The rebound in April, which has yet to be confirmed by Statistics, places inflation very close to the levels with which the year began (3.4%).

The Ministry of Economy, Commerce and Business has highlighted in an assessment sent to the media that the evolution of the CPI in April "was affected by the base effect, due to the better performance of gas and food prices last year ", while electricity continued to become cheaper.

The INE includes in the CPI data preview an estimate of underlying inflation (without unprocessed food or energy products), which in April fell four tenths, to 2.9%, a rate four tenths lower than that of the general CPI.

In this sense, the Ministry of Economy has highlighted that this is the first time in almost two years that core inflation is below the general CPI rate.