The inflation in Spain rose two tenths in February, in the interannual rate and stood at the 6.1%due to the rise in electricity and foodaccording to advance data from the consumer price index (CPI).
The annual rate of subjacent inflation -which does not include energy or unprocessed food- was also raised by two tenths, up to 7.7%reaching the highest figure since December 1986according to the National Statistics Institute (INE).
In both indicators, the headline rate and the subjacent one, the rise in February implies linking three climbs in the annual evolution of prices.
After the price rise, the INE points to electricity, which is rebounding compared to the decrease registered in February 2022, and the greater increase in food and non-alcoholic beverages.
Last December, the Spanish government temporarily abolished the VAT in staple foods like eggs, milk, fruits and vegetables; and the reduction to 5% in oils and pastes (previously at 10%) in order to curb inflation.
But this tax reduction is not being reflected in prices, which are not falling as much as expected.
On the contrary, the INE indicates the drop in the prices of fuels and lubricants, which increased in February 2022, and combined passenger transport, compared to the stability of the previous year.
On the other hand, year-on-year inflation in France has risen in February two tenths to the 6.2%especially because of the food and servicesaccording to the National Institute of Statistics (INSEE), which publishes the provisional results on Tuesday.
The increase in food between February 2022 and the same month this year is 14.5%compared to the year-on-year increase in 13.3% that had been verified in January, highlights the INSEE in a statement.
The difference is particularly marked for fresh products, with a rise in 14.2% in February, compared to 10.2% in january.
The other major factor accelerating inflation is services, with a twelve-month increase in 2.9% in February after 2.6% in january.
In the case of manufactured products, this rise passes to the 4.6% in February, one tenth more than the previous month.
Energy prices, for their part, have become more expensive 14% in twelve months until February. That is less than the 16.3% from January.
(With information from EFE)
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Source-www.infobae.com