The price of electricity paid by families rose 28% between February and August of this year, according to data released this Monday by the National Institute of Statistics (INE). In the highlight that analyzes in more detail the evolution of prices, the INE isolates the period that covers from the start of the war in Ukraine to the end of last month and concludes that, in that period, electricity was the second subgroup that was the one that contributed the most to the price variation verified between February and August, with a weight of 0.799.
Only accommodation services have a greater impact, with a 61.8% rise in prices, but in this case there is a seasonal effect, as highlighted by the INE (in summer prices are higher than in February). But according to industry associations, there are also failures in the rise of the electricity bill, that combine with rising food prices and wage pressures to attract workers to a sector in short supply. In addition to the fact that the demand skyrocketed in a summer that managed to be more “normal” than the previous one.
In August, inflation moderated compared to July to 8.9%, a slight slowdown attributed mainly to the transport class. When we look at the main classes (grouping various products) that make up the index, the main culprits for the worsening of prices since the start of the war were food and beverage products —an increase of 11.5%—, housing, water, electricity. and gas —11.3%—, transportation —6.3%— and restaurants and hotels —another 13.4%, although in this case increases are the rule in the summer months.
INE revises low inflation for August to 8.9%
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Source: Observadora
