GOOD news for British holidaymakers to Spain: the pound is making a comeback, and that means serious discounts are up for grabs in Europe.
Bouncing back from the December 2008 low of €1.04, the sterling exchange rate has hit a healthier €1.25.
Shoppers will notice the difference in almost any clothes shop across the country.
A pair of Zara snakeskin print stilettos. for example, are sold in the UK for €87.81 (£69.99), but the same pair can be found in Spain for just €59.99 (£47.74).
The British holidaymaker stands to save over €27.60 (£22) on one pair of shoes just for buying within Spanish borders.
But it is not just Spanish brands that offer significant savings.
Swedish clothing giant H&M prices women’s skinny jeans at €19.99 (£15.99) across stores in Spain, while the same pairs go for €25.08 (£19.99) in the UK.
But the news unfortunately rides on the back of a still-struggling Spanish economy.
The European Central Bank reported last week that inflation rates dropped to 0.4% – almost approaching the deflation danger area – compared to the UK’s 19% inflation.
The eurozone’s high unemployment rates are to blame, particularly in Spain where unemployment is at 24.47%.
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Well, when a Cabinet Minister states £120k isn’t enough to get by in London…yes prices are generally higher (rent, public transport, food & drink) but inflation at 19% ?? Some mistake in this article surely?
in Southern Spain among young school leavers unemployment rates are a lot higher
with clothing T shirts selling for 30Euros in Spain can get for 10UKP in the Uk
so it is selective
Ive lived in Spain and I find everything including food very high compared to the UK,however fags and booze are still cheap which makes sence when looking at the majorty of people who live on the coast!