Inflation is at its highest in 29 years

The annual rate of change in the consumer price index (CPI) rose to 7.2 per cent in April from 5.3 per cent in March, the highest level since March 1993 by the National Institute of Statistics (INE).

According to a rapid estimate published by Statistics Finland, “based on data already collected, the annual rate of change in the consumer price index (CPI) rose to 7.2% in April (5.3% in March).”

“This is the highest measured value since March 1993,” he emphasizes.

The core inflation indicator (total index excluding unprocessed food and energy products) fluctuated 5.0% (3.8% in the previous month), the highest level since September 1995.

In terms of the annual rate of change in the energy product index, INE estimates that it was 26.7% in April (19.8% the previous month), the “highest value since May 1985”.

The unprocessed food index has shown a variation of 9.5%, from 5.8% in March.

Compared to the previous month, the change in the consumer price index is fixed at 2.2% (2.5% in March and 0.4% in April 2021), estimated at an average change of 2.8% over the last 12 months (2.2% in the previous month).

The Portuguese harmonized index of consumer prices (HICP) changed by 7.4% year on year in April (5.5% in the previous month).

INE will release the final consumer price index data for April 2022 on May 11th.

Leave a Comment