Gasoline and food prices shoot up in June and the CPI reaches 10.2%

The interannual rate of the consumer price index (CPI) was 10.2% in June, after rising 1.5 points compared to the previous month, as published on Wednesday by the National Institute of Statistics (INE). Food and gasoline have continued to become more expensive and the CPI marks its highest rate in almost 40 years. It is the first time so far this year that the year-on-year rate is in two figures and represents a rebound with respect to what was then considered the “ceiling” of inflation by the Government, when the CPI marked 9 .8% in the month of March.

Since then, measures have been approved to contain fuel and electricity prices, however, judging by the data published by the INE, they are not being enough. The year-on-year rate of subjacent inflation, which excludes energy products and unprocessed food from its calculation, marked 5.5% this month, a figure that, if confirmed in the middle of next month, would mean the highest rate since 1993.