He assures that it is a global phenomenon and that the United States has an inflation rate higher than the Spanish
MADRID, 30 (EUROPA PRESS)
The Minister of the Presidency, Relations with the Courts and Democratic Memory, Félix Bolaños, has been convinced this Thursday that inflation is “temporary”, it occurs as a result of the “pull” that the economic recovery is having and will be corrected to throughout the year 2022.
Thus, it has indicated that “all national and international organizations” from the Bank of Spain to the European Central Bank agree that the inflation rate is “transitory” and therefore it will be corrected during the next year, in an appearance before the media after presiding over the Mixed Commission for Reconstruction and Support for the island of La Palma.
This same Thursday it was known that the Consumer Price Index (CPI) rose 1.3% in December in relation to the previous month and shot up its interannual rate to 6.7%, more than one point above the rate November (5.5%) and its highest level in 29 years, due to the rising cost of electricity and, to a lesser extent, food.
With the December data, the highest since March 1992, the interannual CPI chains its twelfth consecutive positive rate, according to the data advanced by the National Institute of Statistics (INE).
AFFECTS ALL ADVANCED ECONOMIES
In this regard, Bolaños has indicated that it is a “global phenomenon” and that it occurs as a result of “the pull” of economic recovery around the world and is affecting all advanced economies. “For example, in the United States the CPI rate is higher than the Spanish one,” he stated.
In addition, although he has recognized that the rate is “high”, he has indicated that the rise is a consequence of being compared with a year 2020 – “the year of the pandemic” in which inflation was “zero”. Finally, he assured that the measures taken by the Government to lower the electricity bill have made inflation “much lower” than it would have been if they had not been applied.