• Food shoots up 15.9% in December and Yolanda Díaz points out to companies: "There is someone here who is making money"







stood at


, that is, the average year-on-year inflation recorded in the twelve months of last year was the highest recorded in the country

since 1986

, in the that prices rose on average in the year as a whole by 8.8%.

This rise in prices

impoverished families

, who last year had

40,000 million euros less purchasing power.

This loss of purchasing power affected all households in the country, since the

rise in prices was transversal

to all the goods and services that make up the consumer basket.

In addition, by especially affecting basic elements such as

electricity, gas, fuel and food

-goods that are highly inelastic on the demand side, because the consumer cannot substitute anything else for them (we need food to survive, gas to warm us up, light for everything and gasoline to be able to get around in many cases) - impoverished the entire population in a general way.


workers were the most affected

, since their incomes did not increase at the same rate as prices rose -

wages increased by 2.8%

last year, according to the Statistics on Agreements - and, although the number of affiliates to the Social Security in half a million people, the

total number of hours worked

in the country remained below that of 2021, according to the latest Active Population Survey, so the total number of work -main source of income- did not grow.

The rest of the groups, such as


, will be compensated in this 2023 for the inflation of 2022, since their benefits will rise by 8.5%, and

public employees

will receive a salary increase of 3.5% to also compensate for that loss. .

Despite the differences,


in Spain as a whole have suffered a loss of purchasing power of

40,000 million euros in 2022,

according to Funcas calculations for EL MUNDO.

"We would have to go back to 2011-2022 to find a loss in purchasing power greater than that experienced this year," explains

Raymond Torres,

its director of the International Situation and Analysis.

This is due to the fact that in the worst years of the financial crisis, Spanish families experienced impoverishment that was not due to the rise in prices, but to the

loss of jobs and income.

(In 2012 some 800,000 jobs were destroyed and the unemployment rate rose to 25.4%).

In the last years before the pandemic, between 2015 and 2019, the purchasing power of Spanish families did not stop increasing.

The differences in the impact of inflation, beyond the type of person supporting each household, can be seen in the level of income, since it has been shown that the rise in prices disproportionately affects

households with less economic capacity

due to the composition of its consumption.

However, the reduction in the price of electricity that has been achieved in the last months of 2022 "has alleviated the disproportionate weight that the rise in food and gas has had on these households", while "the increase in the prices of goods and services such as restaurants, hotels, transportation and other similar items, which are consumed to a greater extent by households with higher incomes, has contributed to the fact that

aggregate inflation is similar for all households,

unlike what happened in 2021," EsadeEcPol

analysts explained this Friday


Electricity, fuel and purchases skyrocket

In 2022, the

price of electricity

has been precisely one of the

biggest problems for the country,

both for households and for companies, which use it as the main source of production.

The month of March marked its record rise, with an increase of 107.8% compared to the previous year, but throughout the year it has moderated and the approval of the Iberian mechanism to control the price of gas -which determines the price of electricity - has even allowed price drops in the last three months.

Despite everything, in the year as a whole

the price of electricity has been 33% higher

than in 2021.

There have also been high average increases in


(diesel has been 29% more expensive this year and gasoline, 15.5%), despite the fact that since June they have been getting cheaper due to the bonus of 20 cents per liter approved by the Executive.

Putting on the washing machine or filling the car tank has become

a luxury

for many citizens, but the shopping basket has not been left behind.

Food has risen an average of 7% in the year

, since the skyrocketing increase in December (of 15.9%, confirmed this Friday by the National Institute of Statistics) is offset by the slighter increases in the first part of the year.



is the

food that has risen the most in the year,


compared to 2021, thus sentencing bakers;

followed by

olive oil

, which has risen by 26.7%;


, which

has become 24.9% more expensive;

butter (



sauces (+20.8%);



(+20.7% skimmed and +20.6% whole);





+16.5%) or



Of the 200 goods and services whose price is tracked by the INE,

only 12 have dropped in price

last year and they mainly belong to the


sector -due to the reductions approved for public transport bonds and the end of the payment period on some highways- and the


sector .

The price of

mobile phones

has fallen on average by 5.5% in the year compared to 2021;

that of

personal computers

, 4.4%, and the

telephone services

themselves have been 3.7% cheaper.

Games and hobbies

(1.7%) and

prescription glasses and contact lenses


have also fallen .

Inflation reached its peak in


, when it stood at



Since then it has begun a downward path to end the year at


This means that prices are rising less each time compared to the previous year, but

it does not mean a drop in prices


In fact, since July, the fall in prices has been only 0.08%.



, the

Bank of Spain

forecasts a new increase in prices of

4.9% on average.


is more optimistic and has reduced its forecast to


-from the previous 4.4%-.

They believe that the


will stand at an average of


, with an average rise of

13.5% in processed foods

-higher than the 10.6% registered last year- and

8.8% in fresh food

-lower than that of 2022, of 10.9%-.


Food inflation will also remain high in 2023.

In addition, fertilizer exports were severely disrupted last year, which could also affect world food production in 2023 (...)

Energy prices will return to rise later in 2023 , especially if the reopening of the Chinese economy increases demand for liquefied natural gas,"


analysts warn


According to the criteria of The Trust Project

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  • INE

  • Social Security

  • Inflation