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Madrid (Euronews) – The National Index of Consumer Prices (INPC) in July rose sharply by about six tenths compared to June, reaching 5.57% year-on-year, thus recovering the 5% figure and showing a clear upward trend.
Monthly inflation also rose significantly, from 0.38% in June to 1.05% in July, the National Institute of Statistics and Geography (Inegi) revealed on Thursday.
The underlying index rose by one-tenth from July, up 0.32% on a monthly basis, and the year-on-year growth rate slowed to 4.05%, compared with 4.13% in June.
In terms of expenditure categories, education still had the highest year-on-year growth, reaching 6.36%. Other services also grew slightly, reaching 6.01%. The food, beverage and alcohol sector slowed down slightly, falling to 4.03%.
July 2024 #inflation The total interest rate for the year is 5.57%. Calculated on a monthly basis, the national consumer price index #INPC An increase of 1.05%.
Annual inflation by components:
?? 4.05%, basic
?? 10.36%, non-underlying securities??View press release:… pic.twitter.com/hoSheN7JOh
— INEGI INFORMA (@INEGI_INFORMA) August 8, 2024
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