Prices rise in February by 1.1% for gasoline

Prices rise in February by 1.1% for gasoline

The CPI rose two tenths this month compared to January, also due to the end of the sales period

  This month it has been slightly more expensive to fill the deposit. Prices fell significantly in the final stretch of last year - in just two months they fell a point - and 2019 began with an even greater moderation. But in February, prices start to recover and the INE's advanced CPI data shows an annual increase of 1.1 %, one tenth more than in January, mainly due to the evolution of fuels.


The data, which will be confirmed on March 13, assumes that prices are now 1.1% higher than a year ago. Consumer prices recovered 0.2% in February, one tenth more than in February 2018, after the large drop of 1.3% in January due to the period of sales that has already ended.

  On the side of the harmonized consumer price index (HICP), which measures the prices of the euro area, it was also 1.1% in February, one tenth more than the previous month, exactly the same as in Spain.

The Minister of Economy and Business, Nadia Calviño , pointed out that inflation is in "historically low" figures and that the economic situation is "relatively favorable", with a growth forecast of 2.2% for this year. During his speech at the opening of the day 'The Spanish financial system in the European context', the minister referred to the current low levels of inflation, especially after having closed "very contained" in the year 2018 and have been located in 1 , 1% in February.

With these data that were confirmed on March 13, the annual CPI breaks the bearish trend that had been since November, when it went down six tenths in just one month to 1.7% and from where it has continued falling to the minimum of 1% of last month.

And it is that during the month of January the CPI rate remained at 1% year-on-year due to the moderation of the price of food, but also because of the containment of transport prices because fuels grew less than the same period of 2018 by cutting four tenths of an annual rate to 0.2%.

This 1.1% inflation represents a gain in purchasing power by many population groups, such as the more than 9.6 million pensioners, who revalued their payrolls by 1.7% in general and by 3% for lower.

Also 2.5 million officials have gained purchasing power after their salaries have grown this year 2.25% for the increase approved by Royal Decree. Even in general, the increase in salaries in the new collective agreements are agreed with the unions at 1.95% on average, which continues to be almost one point above the inter-annual inflation in February.