Inflation in Spain: The same breakfast is three times more expensive than in France, twice as much as in Italy and 30% more than in Germany

  • Prices of more than half of the products we consume are already rising above 4% year-on-year

Coffee with milk and toast with butter and jam; T and a slice of bread with olive oil and salt; An orange juice and an omelet, and a bowl of milk with cereal. East Breakfastwhich could be any family of four members, cost today 12% more than one year ago if the family is selected for example Spanish. And price hike If there is a family, then three times more than the registered Frenchdouble which is increased by a Italian and 30% more than the increase made for one house German,

the effect of inflationwhich has risen 8.7% in Spain in May, according to data advanced this Monday by INE, and which already generates two adverse effects In the country’s economy: on the one hand, promoting all items in shopping cart without any retaining dam and on the other hand, it affects more viruscompared to other European countries.

underlying inflationwhich measures the development of prices Except for energy and fresh food, it serves as a thermometer to know how the rest of the country’s prices fluctuate and have risen in the month of May. and 4.9% Year-on-year, half a point higher than in April and the highest figure since October 1995.

The general index has also surprised upwards, as 9.8% was expected after peaking in March. Indian Penal Code Start way down. However, after a fall of 8.3 per cent in April, It has now increased by 8.7%.

result is one poverty Families who already pay as soon as the day starts 12% more than a year ago to be able to have breakfast.

pan has increased by 10.1%; butter12.8%; cereal breakfast, 6%; leche14%; Curd10.9%; cafe10.7%; Sugar3.3%; Tea7.7%, cocoa You chocolate powder, 10.2%; juice7.6%; fruit9.5%; Olive Oil, 42.5%; And this eggsand 21.6%. climbingCollected by the National Institute of Statistics (INE) at the end of April, that is far higher than those experienced in other European countries.

according to the data of homogeneous institution In Germany, France and Italy, all these common products in the early hours of the day on the tables of European households have increased over the past year, but by no means as much as in Spain. East Breakfast today is 8.2% more expensive in Germany; In Italy, 5.5% and in France, 4% more.

really, Indian Penal Code is located in 7.9% in Germany in May, according to advanced data this Monday also in that country, while in France it increased by 4.8% in April and 6.2% in Italy. Figures for later May will be known this Tuesday when Eurostat publishes its advance for the month.

BreakfastIn any case, This is just an example, Prices for almost any component of the shopping cart tend to rise more strongly in Spain than in comparable countries in the rest of the European Union.

Big transition to other goods in Spain

While the largest of the rest of the countries climb up they are focused by energy productsIn Spain There are more and more different goods and services with strong growth. right here oils Non-olive foods (sunflower, palm, coconut, etc.) grew 96.2%; hotel, 50.5%; And this Olive Oil42.5%, which includes the three products with the highest growth.

In Germany lead prices go up loss liquefied hydrocarbons (Butane, Propane…) with a price increase of 123.1%; liquid fuel, 77.4% and gaslio, 51.9%; In France This is what happens- fuel fluid 80.8% increase; gas natural54.5%, and gaslio34.3%-, and in Italy lead the climb european flights (91%) and international flights (79.8%)—the main cost of which is fuel—and Electricity (68,5%).

electricity in spain I April a. was uploaded in 34,9%being modernized mainly by original effect, it has already registered growth since April 2021; liquid fuel for heating increased by 95.7%; and butane and propane, 33.4%. The government has not yet approved it gas price capWhich will have a downward impact on the price of electricity, with a general decline in power not yet observed. energy bill Which can be a bit distracting to the climbers.

in regard of diesel and gasolinewhich grew by 32.1% and 16.3% respectively in Spain in April, salary increase is low in which happened in other European countries partly due to bonus 20 cents per liter fixed by the government and which came into effect from April 1.

in this moderation price hike This has happened despite the fact that according to some economists like Juan Luis JiménezPhD in Economics and Full Professor at the University of Las Palmas de Gran Canaria, Fuel bonus has been absorbed To a large extent by manufacturersDue to which the expected relief is not visible in the pockets of the drivers.

“The results are clear: average prices in Spain increased by almost 5 cents after the policy and by an average of 5 cents. Specifically, gasoline 95 increased by 2.7 cents euros before taxes and 3.7 cents after taxes; and diesel by even more , reached 4.1 and 6. Euro cents before and after taxes, respectively (…) A part of subsidies is not reflected in lower prices for consumersthat they should pay 20 cents less, not 15 as is actually happening”, he added, emphasizing that ” measure ineffectiveness,

The perceived ineffectiveness of the measure could have influenced the development of Indian Penal CodeAlthough some experts such as economists Funkas Hopefully Will increase from medium to 7.6% The upside has been surprised with a rise of more than a single point at the end.

Additional Measures to Control the CPI

However, the government and central banks uphold the message that inflation It’s “extraordinary” and go down.

,we are in an extraordinary moment Due to the exit of the pandemic and Russia’s invasion of Ukraine and is affecting the Spanish economy and all the economies of the world. There are problems with the price of food (…) but there are many circumstances who are foreign to us what are we trying to fix“, said the Agriculture Minister this Monday, louis planeIn statements collected by Efe.

“We continue to work measures to control prices, Especially energy prices and raw materials, where there is a problem”, his counterpart in Industry, Commerce and Tourism pointed out, Reyes Maroto, who have assured that the Executive will detail approved measures to attempt to control inflation.

However, that inflation Down or not will largely depend on whether these messages give companies and consumers confidence, i.e., Expectations generated around prices.

Meanwhile, and looking at the evolution of the data, Gail Gavilnygeneral director of economics and statistics bank of spainwarned that the Revise your inflation forecast upwards already lowers its growth estimate.

In his latest estimates presented in April, he predicted that Inflation will close the year on average at 7.5%A figure more than the increase in CPI accumulated till date 8.1% so far this year.

The supervisor’s director of economy has taken advantage of his speech at an event in Seville to recognize that today’s figures have taken him by surprise and Demand an income settlement between unions and employers To “avoid an inflation spiral” because there are “some policies to fight against” inflation Those who escape from the margins of governments.”

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