The end of fuel subsidies threatens to drive inflation up to a certain point in the fall.
El repunte del IPC en julio con parte del decreto anticrisis aún en vigor hace presagiar subidas muy superiores tras el verano si el petróleo mantiene su escalada
The first inflationary blow from the war in the Middle East has already arrived. The CPI rose in July to 3.5%, according to the advance data published this Thursday by the National Institute of Statistics (INE). This is three tenths more than the rate recorded the previous month and coincides with the month when the gradual withdrawal of tax discounts on fuels began.
The data is an advance indication of the impact that the end of these aids will have in the coming months and points to an autumn with greater pressures on the price index. All analysts assume that the rate will increase when the discounts disappear. The question is how much and when it will happen. The government's calendar remains for now with a focus on October, but the great volatility in the energy market derived from the crisis in the Middle East calls this calendar into question.
Translated by urgent.news. Machine-written — may contain errors; check the original before relying on it.
