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CPI in April, in Negative Territory for the First Time Since 2016 at -0.7% in Inter-Annual Terms

CPI rose by 0.3% in April compared to March but entered negative territory in inter-annual terms for the first time since August 2016, down by seven tenths to -0.7%. Housing costs fell by 6.4% in inter-annual terms.

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The Consumer Price Index (CPI) rose by 0.3% in April compared to March and entered negative territory for the first time since August 2016, down by seven tenths to -0.7%. That also represents its lowest rate since June of the same year, according to the National Institute of Statistics (INE), which published the data on Thursday.

This latest decrease means that year-on-year CPI has fallen for three months in a row. The INE blames the reduction on the lower price of fuel, and a decrease in the price of electricity and diesel for heating.

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