How the January 2023 slope will affect your pocket
Mar 10, 2024 2:57:46 GMT -8
Post by account_disabled on Mar 10, 2024 2:57:46 GMT -8
Spaniards begin 2023 with 800 euros less in their pockets and Christmas spending that exceeds 600 euros on average per household. So the January slope will become steeper than usual for many families. Inflation began to ease in August , but for months the underlying indicator – which represents the bulk of the shopping basket – has continued to exert pressure on prices. Food is becoming more expensive than ever before, while the items in the basket that had risen the most in the last year have been slowing the climb for months. Beyond prices —and the challenge of New Year's financial resolutions— , in January 2023 new taxes and laws also come into play that will affect the wealth of Spaniards and the financial status of self-employed workers. This is how the January cost will affect your pocket in 2023 , after one of the most expensive Christmases of your life . Shopping basket The escalation of prices, especially of food, is such that it has led the Government to include in the new anti-crisis decree the reduction of VAT on food .
Bread, bread-making flour, milk, cheese, eggs, fruits, vegetables, legumes, potatoes and cereals will go from a super-reduced VAT from 4% to 0% . Oil and paste from 10% to 5%. The VAT reduction will be transferred immediately to the price of food and will be in force during the first 6 months of the year . The cost of food is the one that is exerting the most pressure on inflation WhatsApp Number List right now, especially on core inflation (as you can see in the graph above). This indicator represents a structural rise, so it is more difficult to lower it . In other words, the aid will boost you on the January slope, but it will not be equally immediately reflected in how much prices are rising. Inflation will continue above the 2% target until 2025 . Electricity bill The energy crisis is giving a break to inflation , with the fall in the cost of electricity production and the reduction in the cost of fuel. And at least for the next 6 months, VAT on electricity will remain at 5% from the usual 10%. What will happen in 2023? It really is not known.
For now, prices will continue to rise in the coming months , but less than expected. It is estimated that the megawatt hour (MWh) will exceed 200 euros in 2023. In December it has not exceeded 150 euros/MWh. Mobile and internet bill Vodafone and Telefónica have announced rate increases for their internet services and mobile phone lines. Orange has left the door open. Source: CNMC | Author: Marta Garijo (BI Spain). Source: CNMC | Author: Marta Garijo (BI Spain). Convergent packages are becoming more expensive every day, but in the lower segment prices are adjusting with the entry of new players and second brands. In fact, Digi and MásMóvil led customer acquisition in the Spanish market in August . This is how what households pay for Internet and telephone has evolved in the low cost war . Fuel On December 31, the discount of 20 cents per liter on gasoline and diesel ends , except for transporters and fishermen. So, starting January 1, refueling your vehicle will cost you more money .