The Consumer Price Index (IPC) [1] in Puerto Rico for June 2022 reached 130.17. When comparing year-over-year changes, June 2022 saw a substantial increase of 7.2% in its index. The principal groups with the largest increases in their index, when compared to June 2021, were Transportation (15.6%), Food and Beverages (9.2%), Other Articles and Services (3.5%), and Housing (3.1%).
May 2022’s IPC shows an increase of 1.2% compared to the rate registered in the previous month, which had an index of 128.66. The industries that had the largest and most significant month-over-month increases in their index were Transportation (3.9%), Food and Beverages (0.6%), Education and Communication (0.3%) Housing (0.3%), and Entertainment (0.3%). On the hand, the only industry that saw a decrease in its Consumer Price Index of 0.1% this month was Apparel.
As for the overall fiscal year 2022, the IPC registered averaged 125.17, which compared to the previous fiscal year, shows an increase of 4.6%.
Altogether, inflation seems to be continuously growing at an alarming rate, especially when it comes down to the Transportation and Food and Beverages categories, both of which saw substantial increases in their index regardless of the time period. The subgroup that most impacted Transportation was public transportation with a month-over-month inflation of 20.3%. As for Food and Beverages, the subgroup that had the most impact was Dairy and related products, which portrayed an inflation of 4.3%.
[1] A unit used to measure inflation at a monthly rate in the Economy.
