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El Gobierno está vendiendo como un éxito que la tasa mensual del IPC del mes de septiembre (dato adelantado) es del -0,6% y la evolución anual del IPC ha abandonado los dos dígitos hasta situarse en el 9%. Unos datos que deben ser tratados en su contexto para no confundir al público.

En primer lugar, que la tasa anual del IPC descienda al 9% significa que se desacelera, es decir, de septiembre de 2021 hasta septiembre de 2022 la cesta de la compra se ha encarecido un 9%. Incluso, el dato es más desalentador cuando echamos un ojo al IPC anual subyacente que ha pasado del 6,4% en agosto al 6,2%, un recorte de tan solo dos décimas.

Es más, la comparativa con nuestros vecinos saca los colores a España. El IPC anual en agosto fue del 10,5% y la media de los países de la Eurozona fue del 9,1%, 1,4 porcentuales por encima. Hemos estado por encima de la media de los países de la moneda única desde el mes de abril y el diferencial se ha ido ampliando paulatinamente.

Con los datos de agosto, el IPC de alimentación y bebidas subía un 13,8%, el grupo de gastos del hogar -alquileres reales de viviendas, mantenimiento y reparación, abastecimiento de agua, electricidad, gas y demás- se ha encarecido un 24,5% y transporte un 11,2%.

Si comparamos este grupo de datos, la Eurozona ha ido mejor que España:

IPC alimentos y bebidas no alcohólicas: 12,7%, -1,4 puntos porcentuales.
IPC vivienda, agua, electricidad, gas y otros combustibles: 19,7%, -4,8 puntos porcentuales.
IPC transporte: 9,9%, -1,4 puntos porcentuales.

Los datos no invitan al optimismo. Recordemos que tanto el barril de Brent como el de WTI llevan en un proceso de descenso de precios desde los 120 dólares alcanzados. Hoy se encuentran en 84 dólares y 77 dólares respectivamente. El barril ha bajado alrededor de un tercio de su precio en este trimestre y el consumidor no nota, en el acumulado anual, una reversión notable de los precios que está pagando.

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- La noticia

Que la inflación caiga 1,5 puntos y se quede en el 9% no significa que bajen los precios, sino que suben menos que el mes pasado

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Marc Fortuño


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