Mercadona supermarket chain in Spain reports 5% rise in profits
SPAIN’S market-leading supermarket Mercadona reported a 5% rise in profits last year as consumers had to deal with increased prices. The company made €718 million
Food inflation in Spain reaches record levels despite January tax cuts
FOOD and non-alcoholic beverages rose in February by 16.6% over 12 months- 1.2% higher than in January. The food inflation rate, according to the National
Spain’s Andalucia seeks to attract long-haul tourism with cultural and sporting events and improved air connections
ANDALUCIA plans more than 40 actions in 2023 to make headway in distant markets. Southern Spain is committed to offering a host of cultural and
February’s unemployment figures in Spain stay virtually unchanged
THE number of people registering as unemployed in Spain rose by just 0.1% in February compared to a month earlier, according to Labour Ministry figures
ECB boss brings little cheer for people in Spain on variable-rate mortgages
THE president of the European Central Bank(ECB) has offered little respite for over four-million households in Spain that are struggling to pay their variable-rate mortgages.
Spain’s new windfall tax on banks and energy companies could raise more money than predicted
A new windfall tax on excess profits made by banks and energy companies in Spain could net more than the €3 billion forecast for this
Food inflation remains at over 15% in Spain despite January tax cut
FOOD inflation in Spain stayed at over 15% in January despite an IVA tax cut on some basic products. The National Institute of Statistics(INE) on
Largest number of companies in Spain for 27 years ceased trading in 2022
THE state of the economy in the wake of the Ukraine war and the post-pandemic period contributed to the highest number of Spanish companies folding
Freeze mortgage rates, says Spain’s labour minister after BBVA posts record profits
SPAIN’S deputy prime minister and labour minister, Yolanda Diaz, on Wednesday called on the banking sector to freeze mortgage interest rates and curb its profits
Spain raises minimum wage, in move that could benefit 2.5 million people
SPANISH Prime Minister Pedro Sánchez announced on Tuesday that his government would once again raise the national minimum wage, the fifth time his Socialist Party-led
Borrowers in Spain face rising mortgage repayments as Euribor shoots up
RESIDENTS of Spain could see their mortgage payments increase soon thanks to the ongoing rise of the 12-month Euribor. The rate is the most commonly
Valencia keeps position as Spain’s dominant port despite economic crisis
THE port of Valencia kept its 40% share of Spain’s import and export sea-based market in 2022 despite the economic crisis. The east-coast facility maintained
What caused inflation in Spain to rise above market forecast this month
Inflation rose to 5.8% across Spain in January, much above the market forecast. The preliminary figure was up from 5.7% in December 2022, a 13-month
Spain’s economy grew faster than expected in 2022 to beat recession fears
SPAIN’S gross domestic product grew by 5.5% in 2022 despite the global economic crisis which has caused rocketing prices. Figures released on Friday by the
Unemployment in Spain fell by nearly 80,000 people in 2022 with 278,900 jobs created
THE RANKS of the unemployed fell by 79,900 people in Spain in 2022 compared to the year before. That was a decrease of 2.6%, according
78.8% of ‘second’ home buyers in Spain’s Valencia region during 2022 were foreigners
78.8% of people who bought a second home through Valencian Community real estate agencies in 2022 were foreigners while 70.1% of those who acquired a
Spain sees record surge in tax revenues, partly due to Covid-19 pandemic
THE COVID-19 pandemic had a lot of different effects on the way Spaniards live, from an increase in home working to a change in the
Spain’s inflation rate was 5.7% in December
SPAIN’S inflation rate for December was 5.7%- a tenth lower than in provisional figures announced a fortnight ago by the National Institute of Statistics. The
Tourist spending in Spain’s Balearic Islands in 2022 smashes pre-pandemic levels
VISITORS to the Balearic Islands in the first 11 months of 2022 spent €800 million more than the whole of the pre-pandemic year of 2019.
EXPLAINER: A guide to Spain’s big January fashion sales
JANUARY is always the time when clothes shoppers in Spain can pick up a bargain in the big sales. Once Friday’s Three Kings holiday is
Pedro Sanchez suspends taxes on essential food products in Spain’s latest anti-inflation package
PRIME Minister Pedro Sanchez has announced details of Spain’s latest ‘anti-crisis’ package to fight inflation in 2023. The measures were agreed at Tuesday’s meeting of
EXPLAINER: Why Spain’s 20 cents per litre fuel discount is nearing the end of the road
SPAIN’S 20 cents per litre fuel bonus- introduced in April- is likely to be scrapped on December 31. The measure was brought in to counter
Spain’s PM Pedro Sanchez considering measures to cut basic food prices
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
Spain’s bars and restaurants expecting bumper post-Covid Christmas
AROUND this time last year, the emergence of the omicron variant of the coronavirus dashed the hopes of Spain’s bars and restaurants of any kind
Luxury tourism grows by 30% in Spain’s Malaga
PREMIUM tourism is on the rise in the Capital of the Costa del Sol, says tourism delegate. According to Jacobo Florido, Malaga’s Councillor for Tourism,
Spain cuts windfall tax grab on energy firms to win support of regional political parties
CONGRESS has approved a new windfall tax on excess profits made by energy firms but only after the government agreed to changes demanded by small