The INE has raised inflation for August by one tenth, already reaching the very high figure of 10.5%, with food at the highest level since 1994. The revision of the indicator has shown an increase in prices much higher than initially expected, especially pushed by the increase in the price of electricity and the shopping basket.


Indeed, perhaps the group that most decisively influences inflation is that of food and non-alcoholic beverages, which places its rate at 13.8%, three tenths higher than that of last month and the highest since the beginning of the series, in January 1994.


Of this group, the increases in the prices of milk, cheese and eggs stand out (greater this month than in 2021); meat (compared to the stability of the previous year); and bread and cereals (with an increase greater than that of August last year).


The elements that increased the most in August compared to the same month of 2021 were liquid fuels (79.1%), other oils (71.2%), electricity (60.6%), flour and other cereals (39%) and butter (31.8%), while the ones that fell the most were tolls and parking (20.5%), mobile phone services (6.3%), mobile phone equipment (5.1%), audiovisual equipment (4.9%) and personal computers (4.6%).


Regarding core inflation, which does not include fresh food or energy, the INE maintains it at 6.4%, three tenths more than that registered in July and the highest since January 1993.


Regarding the monthly evolution, consumer prices rose by 0.3% compared to July, while the Harmonized Consumer Price Index (IPCA, which allows comparisons to be made with other European countries) stands at 10, 5%, two tenths less than the previous month