Inflation and the plastic tax dilute Sánchez's VAT drop
The
price of food shot up
15.9%
last month
compared to December 2021, which strained the accounts of
families
who had to face
record prices in the supermarket
at Christmas .
Headline
inflation stood at
5.7%
last month ,
while core
inflation
-which does not take into account the price of energy products and fresh food, as they are the most volatile-
stood at 7%.
The National Institute of Statistics (
INE
) has published this Friday the final figures of the CPI for December.
He had anticipated at the end of the month that inflation would stand at 5.8% -one tenth above the final result- and underlying inflation at 6.9% -one tenth below-.
In a
monthly
comparison , prices in the economy rose
0.2%
in December compared to November;
while the prices of all products without counting fresh food and energy products increased by
0.9%
.
This category includes all
processed foods
(yogurts, legumes, pasta, etc.) that rose in a single month.
The December data also makes it possible to know with certainty that
inflation stood at an average of 8.4% in 2022,
compared to the
2.78% rise in wages
that occurred in Spain, according to the Statistics on Collective Agreements of the Labor Ministry.
The difference between one increase and another shows a loss of purchasing power for workers of about 6 points.
Beyond the pressure on the pocket exerted by inflation in general, which spreads through all the goods and services in the shopping basket, the
increase in food prices
is one of the issues that worries the country the most, since it is something basic that no family - not even low-income ones - can give up.
Hence, the Executive has approved a
drop in VAT
on some basic foods that came into force on January 1.
The measure will coincide with the
end of the bonus of 20 cents
per liter on fuel, which will partly offset the effect it will have on the CPI for January.
For the whole of
2023
, the Bank of Spain expects prices to rise another
4.9% on average.
According to the criteria of The Trust Project
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Inflation