As inflation hit an all-time high in the summer and costs for everything from utilities to eggs to olive oil skyrocketed, Dynata’s report on global consumer trends found that 60% of Spaniards said their country was already in recession. It is in the midst of a recession and her second pessimistic outlook after the UK was 61%.

Spain’s inflation rate in August was 10.4%, according to the latest data from the Spanish National Institute of Statistics (INE).

Supermarket prices have increased significantly in Spain since 2021. Carrefour increased its prices by 12.1%, Mercadona by 11.4% and Euroski by 9.5%. The products that rose the most were sunflower oil (up 44.4%), red bull (up 15.9%), ketchup (up 15.2%) and coca cola (up 14.3%).

The study, which surveyed 11,000 consumers worldwide, found that a staggering 60% of Spaniards said they had problems with basic shopping, 7% more than the global average , 31% admit to having problems producing food for a living.

Faced with such severe financial pressure, 65% of Spaniards believe the government should do more to address rising inflationary pressures.

According to a Dynata report, 56% of global consumers believe their leaders are not doing enough to ease the pain of inflation and rising costs of living.

Additionally, 26% of consumers worldwide expect economic conditions to deteriorate by the end of 2022. Again, Spain is above average at 29% expect conditions to worsen, but behind the UK (49%) and Germany (36%).

Gas and electricity costs rose to staggering levels amid the energy market shock caused by the war in Ukraine. I’m having trouble paying.

With economic uncertainty looking lingering for the foreseeable future, 59% of Spaniards say they will try to save in 2022, which above global average of 49%.

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Source: thelocal.es