CCOO of Extremadura stressed that it is necessary to continue increase wages to recover the purchasing power lost by workers in recent years and to act to promote access to housing, which represents an “enormous effort for a large part of the population, particularly for the youngest”.
“Companies and sectors with greater market power have dramatically increased their profits, passing on their costs to consumers. Energy, hotels, tourism and part of the food chain have reached historic margins“, indicated the union in a press release, which considered that “this must necessarily be reflected in salaries”.
On the other hand, CCOO recalled that the increase in the cost of buying a housewhich accumulates 6.2 percent in Extremadura in the last twelve months, does not appear in the CPI, but “clearly exceeds the payment capacity of households and triggers the effort that working families must assume in it absence of a determined public policy.
So, this had an impact that in addition to the higher cost of housing prices, the higher mortgage cost due to the sharp rise in interest rates, although there is some relief with the recent drop in Euribor.
“We must act on the mortgage market and offer solutions to the millions of households in debt at variable rates, harmed by the sharp rise in interest rates, by referring mortgage loans to fixed interest rates and lowering their maturities to levels of effort that can be assumed by consumers,” CCOO Extremadura said in a press release.
Monthly price evolution
In October, the monthly rate of change of the CPI in Extremadura increased twice as much as the national averagesince it is 0.6 percent compared to the Spanish average and 1.2 percent in the region.
The largest monthly price increase in Extremadura is largely due to a larger increase in the group of dress and shoeswith a rate of 16.2 percent compared to the 8.5 percent state average (increases related to the start of the fall-winter season).
They also increased in Food and alcoholic beverageswhich recorded a monthly increase of 1.7 percent in the region, three tenths more than the national average, while the Hotels, Cafés and Restaurants group increased its prices by three tenths while in the whole Spain, they decreased by a 0.2 percent per month.
Annual price evolution
For its part, the CPI price data for the month of October published this Thursday places the inflation data in Extremadura at 1.8 percent compared to the same month of the previous year, five tenths more than the previous month.
The general state index, also at 1.8 percent, increased by three tenths, a more moderate increase than in the community of Extremadura.
The product groups that contributed the most to this increase in prices at the annual rate of the country were Housing and transportationassociated with the increase in electricity and fuel.
In the specific case of Extremadura, housing increased by 5.9 percent last year, compared to the 4.2 percent of the national average and representing an increase of 1.6 points compared to the same month of the previous year.
In the case of Transportation, the annual rate increased by 1.2 points to -2.7 percent (-3 percent in the state average). It should also be noted that in the case of clothing and footwear in the region, with an increase rate of five tenths, it exceeds the figure of the previous month by one point and six tenths.
Finally, CCOO pointed out that the annual rate of change in core inflation, which excludes unprocessed food and energy products, increased by only one tenth compared to the state average and is set at 2.5 percent, although it remains seven tenths above the general indicator.
In the case of Extremadura, this indicator amounts to 2.4 percent (in this case it increases by three tenths) and maintains a differential of six with general inflation.
