8 Dec, 2022 @ 14:15
1 min read

Spain’s PM Pedro Sanchez considering measures to cut basic food prices

Spain's Pedro Sanchez blasts far-right parties during speech at European Parliament as he accuses Vox of stirring up Francoism
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PRIME Minister Pedro Sanchez says he’s looking at containing food price rises as part of a new anti-crisis package to be implemented at the end of December.

Sanchez told reporters that the third set of measures to counteract inflation caused by the war in Ukraine will be ‘very ambitious’.

He said he would put forward new proposals and extend others that are currently in force.

The Prime Minister said his government wants to curb food price rises which are a main factor in Spain’s inflation rate, which stood at 6.8% in November.

Food inflation was over double that figure and attempts with major supermarkets to create a ‘basic shopping basket’ of up to 30 items at a reduced price came to nothing.

The main food price hikes have been in vegetables, meat, milk, cheese, and eggs.

It’s believed that prices could be forced down by reducing the IVA tax on targeted goods.

The treasury has raked in €75 billion in IVA payments during the first 10 months of the year.

The government is also considering extending the current discount of 20 cents per litre of fuel, which ends on December 31.

The decision will depend on the price of a barrel of oil and forecasts for the next few months.


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