The Diplomat
The Consumer Price Index (CPI) rose by 2% in October compared to the previous month and shot up its year-on-year rate to 5.5%, which is 1.5 points above September’s rate and its highest level in 29 years, due to the rise in electricity prices, reports Europa Press.
With October’s figure, the highest since September 1992, the year-on-year CPI has recorded its tenth consecutive positive rate, according to data released yesterday by the National Statistics Institute (INE).
According to Statistics, the year-on-year performance of the CPI is due to the rise in electricity prices, which is higher this month than in September last year.
Also influential, although to a lesser extent, is the increase in the prices of fuel and lubricants for personal vehicles and gas, compared with the decreases recorded last year.
In monthly terms, the CPI recorded its third consecutive upturn, rising by 2% in September, 1.2 points more than in July.
