The escalation of inflation spreads dangerously throughout the economy at great speed and suffocates

Spanish households

.

Families see how their purchasing power decreases month by month at the same rate as the

Consumer Price Index

(

CPI

) shoots up and without the Government being able to stop the

dangerous inflationary spiral

that does not stop.

The latest known data portends an uncertain second half of the year and knocks down the short-term measures adopted in the last two months, which

that have been objectively revealed to be unsuccessful - patches and more patches.

After the slight monthly decrease that inflation experienced in April, when the difference between prices and wages gave a respite of one and a half points compared to the soaring 9.8% in March, the advance data for May once again caused tremors in the pillars of our economy and in the pockets of the Spaniards.

The CPI increased to 8.7% and threatens to continue rising, until it becomes a burden with no expiration date on the economic recovery.

The worst thing is that the

Underlying inflation

-which excludes the cost of energy and fresh food- registered the highest rate in the last 27 years: 4.9%.

This is a real challenge for the subsistence of families, especially those with low incomes.

As reported by EL MUNDO, after comparing the rise in prices in Spain, Germany, France and Italy, the Spanish shopping basket is the only one that continues to rise and hit the domestic economy out of control.

As if that were not enough, yesterday a new rise in the

euribor

, which remained anchored at negative levels since 2016, with the consequent

rising mortgage prices

.

We are headed for an inflationary spiral that will sink the economy if they are not approved immediately

structural reforms

to stop or compensate for the rise in prices.

Runaway inflation cannot be combated with patches such as the linear 20-cent discount on fuel or setting the price of gas at 50 euros per MWh to reduce the cost of electricity (a measure that, by the way, does not yet have the approval of Europe).

There is an urgent need for solutions that give oxygen to a

stifled job market

, which can no longer support high inflation, which continues to chain one crisis after another.

In the first four months of the year alone, 12,611 companies closed, 11% more than in the same period of 2021. And the worst thing is that eight out of 10 closures were voluntary, because the employer could not continue with the activity due to the increase of costs and the fall in consumption.

Social peace is in danger if this bleeding continues.

The inflationary escalation corners Sánchez.

But he doesn't react.

He must take responsibility for it and lead a

rent agreement

between unions and employers that alleviates the anguish of the Spanish.

It is urgent to deflate personal income tax in accordance with the real evolution of prices -as even Jordi Sevilla has asked- and contain public spending.

The ECB is going to raise the

price of money

and the

spanish debt

it's fired

Hard times are ahead.

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