Inflation peaked in March reaching two digits, but the fuel subsidy has also managed to reduce the rate
In March, inflation reached its record in the Region of Murcia, reaching double digits (10%), the highest rate in four decades, but in April the situation moderated slightly to 8.2%, according to confirmed this Friday the National Institute of Statistics (INE). The regional figure is one tenth lower than the national figure (8.3%) and shows a growth in prices of 3.5% so far this year.
This large drop during the month of April throughout the country is due, above all, to electricity and gasoline. On the one hand, because electricity has begun to drop in price due to cheaper natural gas, increased wind and photovoltaic production and lower household consumption due to the arrival of spring. And, on the other hand, due to the drop in the cost of oil in the markets -although it is still above 100 dollars per barrel- and the bonus of 20 cents per liter of fuel applied at gas stations since it came into force on April 1 the government’s anti-crisis plan.
From the Ministry of Economic Affairs they assure that it has been a “significant reduction that breaks the upward trend of recent months, in which the first effects of the measures adopted by the Government to alleviate the economic effects of the war in Ukraine can be seen , to reduce the cost of energy for families». They also acknowledge that the “slowdown” in electricity prices has also contributed to this reduction.
In the Executive they hope that inflation will continue its decline in the coming months thanks to the limitation of gas prices that this same Friday is approved in the extraordinary Council of Ministers, which will allow a “significant” reduction in the price of electricity. “The drop in the electricity bill of homes and companies will occur as soon as possible,” they argue.
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