Inflation and, therefore, rising prices are affecting the pocket of residents in Spain, who increasingly see more expensive basic products such as food. Inflation in July 2022 is 10.8%, the highest level since September 1984.
A rise that is affecting the summer holidays and that would be motivated by the rise in prices of food and non-alcoholic beverages and electricity (which registered a decline in July 2021) and that of clothing and footwear, whose prices fall less than last year. They also point out that this escalation is registered with a fall in fuel prices.
Regarding the monthly variation, consumer prices recorded in July a rate of -0.2% compared to the month of June, according to the advance indicator of the CPI.
The June CPI (10.2%) is one and a half points higher than the previous month’s rate and six tenths lower than the July advance CPI (10.8%).
Rising prices are causing consumers to change their consumption habits: more white brands, more cash payments and smaller purchases. As a measure to save, they recommend organizing and creating a shopping list that will prevent the purchase of unnecessary products.
The published data is the advanced CPI, the final results will be known next month. What is the CPI? It is an indicator that measures the evolution of prices of consumer goods and services purchased by households in Spain.