The consumer price index (CPI) increased by 1.5% year-on-year in September, according to final data published this Tuesday by the National Institute of Statistics (INE), the lowest since March 2021. It is also confirmed that core inflation remains on the path to moderation by increasing by 2.4%, its lowest level since January 2022.
The final data confirms that the CPI exceeded downward forecasts, closing the ninth month of the year below the 1.9% estimated by the market consensus. The drop of eight tenths compared to August (2.3%) in the general index and three tenths in the underlying index (which excludes energy products and fresh food products due to their volatility ) is fundamentally explained by the fall in the prices of fuel, electricity and electricity. tourist packages, as well as the drop in the price of food products, whose interannual rate fell by seven tenths, to 1.8%, its lowest level since October 2021.
