However, when compared with July 2019, the index for July 2021 increased by 1.1 percent, according to data from the National Institute of Statistics (INE).
"These results continue to be influenced by a base effect, as the comparison focuses on months affected by the pandemic, with year-on-year decreases of 4.5 percent and 1.5 percent in June and July 2020, respectively", states the INE.
The evolution of the aggregate index is due to two segments, namely a year-on-year growth of 2.8 percent in food products (5.0 percent in June) and a 2.4 percent increase in non-food products (9.2 percent in June). Changes in the indices of these groups stood at 5.8 percent and 7.5 percent, respectively (7.0 percent and 13.3 percent in the previous month, in the same order).
After a year-on-year change of 1.3 percent in June, the employment index dropped again, falling to 1.0 percent in July. Compensation and hours worked showed year-on-year rates of change of 4.0 percent and 3.3 percent, respectively, when, in June, the changes were 8.0 percent and 10.7 percent.