Inflation rose to 3.2% in March due to VAT on electricity

The inflammation It rose again to 3.2% in March, up 0.4 points from the 3% level in February data, due to the government's increase in VAT on electricity. Pedro SanchezAccording to data released this Friday National Institute of Statistics (INE). Tax increased from 10% to 21% on March 1 Electricity price hike.

In particular, the Consumer Price Index no (CPI) rose 0.8% in March from the previous month and increased electricity prices and its annualized rate by four-tenths to 3.2%. Fuels.

Government itself It is approved Although he passed on that the reason for the price hike was “basically the normalization of the tariff rate for electricity”. An increase of 0.4 points In a “light” month.

However, the Fiscal policy Sánchez's Spain has been driven away from the Eurozone level. In the euro zone, inflation eased from 2.6% to 2.4%, according to data from the European Statistics Portal. Eurostat. That is, the difference between the index of the Spanish economy and all countries using the euro increased to 0.8 points.

Carlos Body, Economy, Banking, Bank of Spain Minister Carlos Udal, Minister of Economy

Spanish inflation suffered Fuel increase and electricity. However, the reference price for fuels in Europe is common to all countries: a barrel of standard Brent oil. That is, the only difference between the variables affecting prices in the Eurozone and Spain Energy.

For its part, the executive has evaluated the inflation data for March, confirming that it “reflects the very high potential of the Spanish economy. Economic development With moderate prices in major Eurozone countries. But the activities of the government reflect more than this Increased collection interest through taxes rather than controlling inflation.

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Inflation in March

For his part, the Food price And non-alcoholic beverages slowed its annual growth to 4.3% in March, a point lower than February and its smallest increase since November 2021, largely due to falling prices of pulses and vegetables and other food items. 2023 Lower meat price hike than in March, had an impact.

With the increase in CPI in the third month of the year, inflation Register for promotions again That took inflation to 2.8%, its lowest level since August 2023, after the six-tenths decline it experienced in February.

March rebound also returns to CPI Rates above 3% After falling from that level in February, it has remained above that percentage for five consecutive months.

The Core inflation (excluding unprocessed foods or energy products) fell two-tenths in March to 3.3%, one-tenth higher than general CPI and the lowest since February 2022. The difference between core and headline inflation will be one-tenth the lowest after November 2022.

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