With inflation at a 30-year high in Spain, will wages go up?

With inflation at a 30-year high in Spain, will wages go up? | Kai Pfaffenbach

Humphrey CarterPalma20/01/2022 09:37
TW
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Spain saw the largest increase in citizens at risk of energy poverty in the EU in 2020. Now, with soaring gas and electricity prices, the country is increasingly worried about the impact of climate policies on its most vulnerable people.

Millions of Spaniards and thousands of people in the Balearics have struggled to quite simply enjoy a hot meal every day during the pandemic but as we apparently begin to emerge from it, the most vulnerable are facing an even bigger challenge - keeping up with the cost of living and more importantly paying their fuel bills.

Spain is one of the EU countries hardest hit by the current energy crisis, with power prices hitting record highs on an almost daily basis in the past months.

The number of people at risk of energy poverty is growing in parallel: according to Eurostat figures, 10.9% of citizens in Spain were unable to keep their homes adequately warm in 2020, up from 7.5% in 2019 - and just imagine what they are currently going through in the Balearics with minimum temperatures falling way below freezing every night at the moment.

With tens of thousands out of work and the minimum wage way out of sync with the rate of inflation, the authorities are going to have to get their priorities right when it comes public funding and financing to fend off another crisis.