Spain: false claim spreads about January 2024 inflation figure
Silvia Intxaurrondo and the hoax about Spain's **CPI** for **January 2024**. We analyse the context and the implications of the story.
English · Original discussion in Spanish · Published
The story circulating about the January 2024 CPI is false. The official figure published by Spain's **INE** (National Statistics Institute) is a different one.
## The figure that wasn't
It seems that misleading information about inflation has been circulating. Specifically, it was claimed that the Consumer Price Index (**CPI**) for **January 2024** stood at **3.4%**. According to the official data, this is not correct. In fact, the **Instituto Nacional de Estadística (INE)**, Spain's statistics office, published a different figure for that same month.
## The real figure
The **INE** confirmed that inflation in **January 2024** did stand at **3.4%**. However, this refers to the **year-on-year CPI**, that is, the change compared with January of the previous year. The figure that was spread as if it were the January reading itself, or perhaps the monthly change, has caused confusion. Precision matters with economic data, because many decisions depend on it.
## The figure that wasn't
It seems that misleading information about inflation has been circulating. Specifically, it was claimed that the Consumer Price Index (**CPI**) for **January 2024** stood at **3.4%**. According to the official data, this is not correct. In fact, the **Instituto Nacional de Estadística (INE)**, Spain's statistics office, published a different figure for that same month.
## The real figure
The **INE** confirmed that inflation in **January 2024** did stand at **3.4%**. However, this refers to the **year-on-year CPI**, that is, the change compared with January of the previous year. The figure that was spread as if it were the January reading itself, or perhaps the monthly change, has caused confusion. Precision matters with economic data, because many decisions depend on it.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (8 replies).
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