Cost of Living

Spain’s Independent Authority for Fiscal Responsibility, AIReF, has raised its growth forecast for the economy this year to 2 percent, while maintaining its public deficit projection at 3 percent of GDP. This outlook is due to better-than-expected economic performance in 2023. AIReF anticipates a challenging medium-term scenario, requiring adjustments to comply with the new European fiscal framework.

Spain’s inflation rate increased by 0.8% in March and hit 3.2% year-on-year, fuelled by rising electricity and fuel costs. The hike in taxing on electric bills early this month has spiked the Consumer Price Index, says the National Institute of Statistics, marking a return to over three percent after February’s dip. Deputy Prime Minister and Minister of Finance, María Jesús Montero called the rebound “temporary”.

In a remarkable trend sweeping across Spain, olive oil has emerged as the second most stolen item in supermarkets, trailing only behind liquor. This surprising revelation comes from a new study by STC, a company specializing in anti-theft systems, which points to a significant rise in olive oil thefts. With the price of olive oil reaching record highs, it has become a lucrative target for both repeat offenders and organized […]

The National Statistics Insitute – the INE – has issued a warning that the percentage of the population at risk of poverty or social exclusion has risen. The so-called AROPE rate, which measures the risk of relative poverty, the percentage of the population with low employment intensity, and severe material and social deprivation, increased by 0.5 percent last year to 26.5%. Furthermore, the population experiencing severe material and social deprivation […]

Spanish farmers have taken to the streets in various regions, including Catalonia, Andalusia, and Extremadura, to protest against the European Union’s Common Agricultural Policy and high fuel and energy costs which, they claim, hinder their profitability. They’ve blocked roads, causing disruption to motorists, and planned a major demonstration in Madrid. The protests highlight concerns about the cost of production versus selling price, and criticisms of non-EU country produce, particularly from […]