October Inflation Figures Released
The October inflation figures were published yesterday evening. The Consumer Price Index (CPI) remained stable, confirming an inflation rate of 6.7%. The "restaurant, café, and hotel services" group saw an acceleration in prices, rising by 11.1% (8.8% in September), pushing the overall services index upwards (+5.4%).
Food Prices on the Rise
Food prices increased by 9.3% (9.2% in September). Key products saw significant price hikes: +21.4% for lamb, +15.2% for dried fruits, +14.1% for poultry, +13.9% for fresh fish, +13.1% for vegetables, +11.0% for beef, and +6.8% for fruits.
Clothing and Footwear Prices Slow Down
On the other hand, the "clothing and footwear" group decelerated, rising by 9.5% in October compared to 9.7% the previous month. However, the overall increase for manufactured products stood at 6.0%.
Other Key Figures
Two other important figures to note: October's inflation rate increased by 0.8% compared to September, and the underlying inflation rate rose by 10 basis points to 6.3%. This is further evidence that inflationary pressures are present, and maintaining the current interest rate is justified.
Outlook
With salary increases expected in January, prices may show greater resistance. The control of distribution channels and, above all, supply will determine the trajectory of inflation in the coming months. The interest rate has almost exhausted its effect, and the interest in maintaining it lies in stabilizing the exchange rate.
