There is enormous pressure on prices in the retail sector, and in many places they are even falling.
(Photo: imago images/NurPhoto)
Madrid 1.6 percent inflation in June – Spain was the first major economy in Europe to push inflation below the magic limit of two percent. This means that the first country in the euro zone has achieved the goal set by the European Central Bank (ECB) in the fight against currency devaluation.
Spain is in a much better position than the euro zone average of 5.5 percent. What makes Spain different? The government in Madrid – right in the middle of the primary election campaign – claims success across the board. The low rate of inflation confirms the “effectiveness of the most important tax cuts and benefits,” the Economics Ministry said immediately.
In Spain, among other things, taxes on energy and VAT on staple foods are still reduced; local public transport is reduced and commercial drivers as well as farmers and ranchers receive a ten cent discount per liter of petrol at the filling station.
Spanish electricity prices for 2022 were particularly high due to an idiosyncratic calculation
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