Inflation drops to 3.6% by cheap oil

Nada interesanteDel montónInteresanteMuy interesante0 votes print edition DAY / GATS., Tfe. / Madrid The index's advance Index Harmonized Index of Consumer Prices (HICP), released yesterday by the National Statistics Institute (INE), said a drop on-year (last twelve months) of a percentage point in prices in October, up 3.6 % Per annum. It is the third consecutive monthly decline recorded so far this year and brings inflation to the level it had a year ago. It is, moreover, the biggest decline in the rate of inter-harmonized inflation recorded in the history of this indicator, with the exception of July 2001, when it fell by 1.3 points over the previous month. The second vice president of the government, Pedro Solbes, described as "excellent" the decline in the HICP and said that together with the lowering of interest rates and the Euribor, "will help change the current state of apathy in society by one of more optimism. " Dato 'excellent' "The inflation data is excellent and joins others such as the evolution of interest rates or Euribor ranging cotarro moving a bit," said Solbes, who felt that data like these are what the country needs to change the current state of apathy in the society which is one of greater optimism. " Solbes explained that the evolution of oil prices is responsible for 50% of the fall in the rate of inter IPCA October, while the remaining 50% is attributed to components such as food. The second vice president predicted a fall "significantly" from the inflation differential with the Union, which in September stood at a standstill, which in his opinion, said that "we are on track to go down prices," and that the ECB has more room to reduce interest rates and generate more economic activity. He added that if the prices are lower, "citizens will have more resources and increase spending." Recession For his part, the economic responsibility of the PP, Cristobal Montoro, said the drop in inflation in October is "normal" due to falling oil prices, but stressed that its level is still "very high" when compared with economic growth. Montoro stressed that the lowering of inflation is in line with an economic recession, "which is the trend that should worry." With the recession, he explained, income "does not evolve positively" and consumption drops, so it must make a budgetary policy to contain inflation. Suggest (automatic selection): The CPI drops to 4.5% in September thanks to oil and certain food 14-10-08 The problem of the cultivation of octopus is the low survival of paralarvas 30-10-08 Deutsche Bank profit down 83% as of September 30-10-08 Antonio neither rises nor low 30-10-08 The crime rate low 22 points in four years 30-10-08 The low number of mortgages in fifteen communities, most in the Balearic Islands and Andalusia 29-10-08 The PSC criticized the low performance of the investment in 2008, which stands at 27% 29-10-08 The Euribor falls to 4986 low% and the monthly average up to 5298% 28-10-08 Vegara: "The CPI will end the year below 3%, with the permission of oil" 28-10-08 Venezuela announces it will cut 129,000 barrels a day in its oil production 27-10-08