The one in 2022 was going to be the first summer without restrictions due to the pandemicbut it turns out that other limitations have come to citizenship, or rather, to your pocket. The inflationary storm that hits Spain the cost of household vacations has skyrocketed of our country to prohibitive levels. The list of goods and services that are now more expensive than a year ago is endless and the best example of this is the CPI indicator.
As seen in the latest data from the Statistics National Institutethe Consumer Price Index (CPI) shot in june to an unprecedented 10.2%, its highest level since April 1985. Thus, the Spanish face the start of the summer season with prices 7.5 points above the 2.7% of the CPI in June 2021. Thus, although the Government has spent a year downplaying inflation, the Spaniards are presented with a bitter summer.
Although the inflation figure for June is already alarming enough, if we take into account that core inflation continues to rise and without brake (which is the variable that excludes unprocessed food and the energy part, that is, the most volatile components of the CPI) we see that the general increase in prices in all economic activities of the country has skyrocketed compared to 2021. Thus, if in June of last year core inflation was 0.2%, last June it climbed to 5.5%, which means multiply almost by 28 the data of a year before.
Bars and shopping basket
Faced with this dramatic situation, Spanish families are being forced to restrict spending their well-deserved rest days to the maximum. Some, they cannot afford to go to a terrace to eat or have a drinkalthough what is striking is the approach of reports such as the one given by La Sexta to the cases of these people whom it describes as “saving wizards”.
And it is that, 70% of restaurants in Spain have raised the prices of their menus due to the increase in inflation for this summer, according to the survey carried out by the booking app TheFork. In this sense, and according to INE data, Hospitality prices have increased by 7.2% since June last year, its highest in three decades.
Although families limit leisure this summer and avoid going out to restaurants, where they will have less margin of savings is in the shopping basketa category that has skyrocketed above inflation, according to the latest report from the Organization of Consumers and Users (OCU). As the OCU has published, the shopping basket has risen on average by 15.2% in the last year, an increase in prices that will cause an extra cost of more than 830 euros per year for an average family.
The products that have risen the most are olive oil sunflower (118%) muffins (75.4%) margarine (75.2%), bananas (63.6%)pasta (59.9%), light olive oil (52.6%), wheat flour (49.7%), eggs (45.9%) and mayonnaise (42.9%).
In specific fresh products, fruits and vegetables rose by 12.4%, fish by 13.3% and meat by 14%. In meats, a differentiated behavior can be seen between chicken, with 16.1%; beef, with 17.8%; lamb, with 18% and pork, with 7.3%. In addition, according to the OCU, “nothing suggests that the situation will change in the short term and it is likely that the prices of some products will rise even more in the coming months.”
Gasoline exceeds 2 euros
In the middle of the summer vacation season, moving from one city to another is the usual trend, although prices of transport have shot up 19.2%according to the INE.
And specifically, car trips are now more expensive than everwith a liter of gasoline and diesel comfortably above 2 euros. In the last 12 months, diesel has risen 42.7% and gasoline, 34.4%. Nor should we forget about electricity that is above 300 euros per megawatt hour this week and closed in June 33.4% more expensive than a year ago.