Economy and Business Info
How Harmonized Consumer Price Index in Spain according to national statistics institute
The Index of Consumer Prices Harmonized (HICP) in Spain in May stood at the annual rate at 1.8%, two tenths more than the previous month, according to data developed by the National Statistics Institute (INE), which indicated that this behavior include the declining prices of the package and keeping prices of food and nonalcoholic beverages.
This rate of 1.8% is the highest since November 2008, when the HICP stood at 2.4%. With the rise in May, the HICP chained his third consecutive rally after gaining six tenths in March and April.
In May, as seven consecutive months in which this indicator is in positive rates after a run of eight months in negative.
Specifically, the HICP came first negative in March 2009 and reached its record low in July, with a rate of -1.4%. Since August last year, the indicator eased his fall below 1% and in October recorded its last rate so far negative (-0.6%).
To match the April CPI data harmonized with the general inflation rate, something that usually happens up or down-tenth, inflation also would record its highest rate since November 2008 (2.4%).
The Government believes that inflation has been normalized positive rates, although “light” and has predicted further increases in the CPI in the coming months.
He also believes that these increases should be increased by improving demand. Already in the fourth quarter of last year, we began to see some recovery in private demand and consumption, a trend that, according to the Government, remained in the first quarter of 2010.
For its part, the Foundation of Savings Banks (Funk) thought that inflationary pressures are still “very weak”, as evidenced by the rate of inflation is at minimum or even negative.
In fact, in April, core inflation stood at 0.1% for the first time since he began to develop an index in August 1986. However, the Government considers that this is a “point” and that the underlying returns to positive territory.