A third of people in Spain struggling to make ends meet amid high inflation
New research has revealed that people in Spain are among the most pessimistic in the world when it comes to their economic outlook, with many now struggling to be able to afford to fill their shopping baskets and some even struggling to make ends meet.
Spaniards are among the world's most pessimistic when it comes to their economic outlook, research has revealed.
With inflation reaching historic highs over the summer and the cost of everything from electricity bills to eggs and olive oil increasing, a report from Dynata on global consumer trends show that 60 percent of Spaniards 'strongly or very much believe' that the country is already in a recession, the second most pessimistic outlook after the British, on 61 percent.
READ ALSO: How Spain’s cost of living increase is worse than in France and Germany
READ ALSO: 30 products for €30: Spain’s divisive proposal against rising food costs
Inflation in Spain stood at 10.4 percent in August, 0.4 percent lower than that registered in July, according to the latest data from Spain’s National Statistics Institute (INE). A slight decrease, but certainly not enough for it to be noticeable when you reach the checkout during a weekly food shop.
Supermarket prices have risen considerably since 2021 in Spain. Carrefour has raised its prices by 12.1 percent, Mercadona by 11.4 percent and Euroski by 9.5 percent. Some of the products that have risen the most include sunflower oil (up by 44.4 percent), Red Bull (up by 15.9 percent), ketchup (up by 15.2 percent) and Coca-Cola (up by 14.3 percent).
According to the study, which surveyed 11,000 consumers from around the world, a staggering 60 percent of Spaniards now claim that they are struggling to do basic shopping, 7 percent more than the worldwide average, while 31 percent admit they are struggling to make ends meet.
Faced with such severe financial pressures, 65 percent of Spaniards think the government should take more measures to combat the upward inflationary pressures, making it the third most critical population after the United Kingdom and Italy (both on 67 percent).
According to Dynata's report, 56 percent of consumers globally believe their leaders are not doing enough to ease the pain of inflation and the rising cost of living.
In addition, globally 26 percent of consumers expect their financial situation to worsen by the end of 2022. Spain is again above the average on this measure, at 29 percent, but falls behind both Britain (49 percent) and Germany (36 percent).
READ ALSO: Nine ways to save money on grocery shopping in Spain
Amid the energy market shock triggered by war in Ukraine, the cost of gas and electricity are two expenses that have risen to eye-watering levels, and 44 percent of Spaniards are now struggling to pay their energy bills.
With economic uncertainty seemingly here to stay for the foreseeable future, 59 percent of Spaniards claim they are trying to save in 2022, above the global average of 49 percent, but just 15 percent of Spaniards say they have enough savings compared to 23 percent globally.
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Spaniards are among the world's most pessimistic when it comes to their economic outlook, research has revealed.
With inflation reaching historic highs over the summer and the cost of everything from electricity bills to eggs and olive oil increasing, a report from Dynata on global consumer trends show that 60 percent of Spaniards 'strongly or very much believe' that the country is already in a recession, the second most pessimistic outlook after the British, on 61 percent.
READ ALSO: How Spain’s cost of living increase is worse than in France and Germany
READ ALSO: 30 products for €30: Spain’s divisive proposal against rising food costs
Inflation in Spain stood at 10.4 percent in August, 0.4 percent lower than that registered in July, according to the latest data from Spain’s National Statistics Institute (INE). A slight decrease, but certainly not enough for it to be noticeable when you reach the checkout during a weekly food shop.
Supermarket prices have risen considerably since 2021 in Spain. Carrefour has raised its prices by 12.1 percent, Mercadona by 11.4 percent and Euroski by 9.5 percent. Some of the products that have risen the most include sunflower oil (up by 44.4 percent), Red Bull (up by 15.9 percent), ketchup (up by 15.2 percent) and Coca-Cola (up by 14.3 percent).
According to the study, which surveyed 11,000 consumers from around the world, a staggering 60 percent of Spaniards now claim that they are struggling to do basic shopping, 7 percent more than the worldwide average, while 31 percent admit they are struggling to make ends meet.
Faced with such severe financial pressures, 65 percent of Spaniards think the government should take more measures to combat the upward inflationary pressures, making it the third most critical population after the United Kingdom and Italy (both on 67 percent).
According to Dynata's report, 56 percent of consumers globally believe their leaders are not doing enough to ease the pain of inflation and the rising cost of living.
READ ALSO: Nine ways to save money on grocery shopping in Spain
Amid the energy market shock triggered by war in Ukraine, the cost of gas and electricity are two expenses that have risen to eye-watering levels, and 44 percent of Spaniards are now struggling to pay their energy bills.
With economic uncertainty seemingly here to stay for the foreseeable future, 59 percent of Spaniards claim they are trying to save in 2022, above the global average of 49 percent, but just 15 percent of Spaniards say they have enough savings compared to 23 percent globally.
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