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Home News Inflation rises to 3.7pc, highest for three years

Inflation rises to 3.7pc, highest for three years

Published on 13/01/2006

13 January 2006

MADRID —  Inflation went up 3.7 percent in 2005, provoking concern among consumer groups, unions and businessmen.

The figure is the highest level of annual inflation in three years.

The rise has been attributed to increases in the prices of fuel and fresh food, according to latest government figures

The Federation of Consumers in Action criticised recent government decisions as inflationary.

It said rises in electricity and gas prices which were sanctioned by the government for this year did not help.

The CCOO, one of Spain’s two biggest unions, said the rise of fuel prices was nothing more than an excuse to cover up the lack of stability of prices in the Spanish economy.

For the three million freelance or autonomous workers in Spain the rise will be a “slap in the face”, according to Lorenzo Amor, of the National Federation of Autonomous Workers.

He said this will lead to a loss in competitiveness and buying power.

The Spanish Confederation of Entrepreneurs (SCE) said the rise in inflation will leave Spain further away from the average figure for European Union countries.

José María Cuevas, of SCE, said the Spanish economy had suffered a new fall in competitiveness.

[Copyright EFE with Expatica]

Subject: Spanish news