Spain's food prices rise!
Spain News

Spain’s food and beer prices rise!

The cost of 50 foods in markets across Spain have risen.

Fruit has risen by 1.6% since April making it the most expensive food change since one year ago at 12.8% higher, exceeding the rise in cost percentage of jewellrey.

Fresh fish has risen by 2.7% since April and is now 10% more expensive to buy than it was a year ago.

Pasta has risen by 3%, potatoes by 2.6% and seafood by 3.5%.

Beer has risen by 2.1%.

In better news, the cost of living in Spain has lowered by 0.7% since last month with the cost of a household electric bill dropping by 20% on average across the country.

UniCredit research published last month predicted that Spain was set to suffer more from the crisis than any other European economy, estimating a 15.5 per cent decline in gross domestic product in 2020 and a fiscal deficit of 12.5 per cent of GDP.

Other economists argued that a 10 per cent drop in output and a deficit of 10 per cent of GDP were likely. That would bring total debt to at least 120 per cent of GDP, up from a previous level of just under 100 per cent, even before measures to rebuild the economy are contemplated.

Social security figures last month showed that more than 800,000 people had already lost their jobs out of a national labour force of around 19 million people.

Meanwhile the government is currently supporting the income of some 6 million people, whether through temporary lay-off schemes, tax holidays or increased benefits.

Unemployment in Spain was already 14 per cent before the crisis hit.



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