Employment, VAT increases and services could keep inflation above 2% in Spain for two more years. The dynamism of employment and wages, the reestablishment of the usual VAT tax rates on electricity or food and the price increases in the sector...
are all reasons for concern. The Bank of Spain also sees a possible risk in the labor market for its price forecast to be met. The relationship between the variables has practically not changed since the global financial crisis," they point out. Businesses have already recovered their pre-pandemic level, but in some sectors they have grown above average.