September This has a dreaded cost that will force many Spanish families to do engineering exercises to make ends meet. In addition to the exacerbated summer expenses, there is the return to normal with the start of the school year and all the costs that this entails. At least the Spanish population has received some good news in recent weeks with the drop in fuel prices and mortgages, which will ease the pockets of millions of people.
It’s a classic for this time of year. August is already far away on the horizon and with the arrival of September comes a period of excessive spending led by the little ones in the house who return to school. This represents a cost in school supplies, clothing and other extracurricular expenses that will make you look at the bill with a certain skepticism at the end of the month. According to a study by Consumer and user organizationSpanish families will spend 2,588 euros per child with the start of the school year, which represents an expenditure of more than 400 euros compared to last year.
So the arrival of the new school year, in addition to excessive summer expenses, will force hundreds of families to juggle to make ends meet. Although inflation fell to 2.2% in August, the truth is that the cost of daily living remains very high and is suffocating hundreds of thousands of Spanish families. Although it Government presents the unemployment figures as a great success, the truth is that many employees in our country are still struggling because prices have increased in recent years at a faster rate than wages.
Fuel and mortgage prices down
The good news for the Spanish population is related to the drop in the price of fuel and mortgages. More the first than the second, since gasoline represents a significant monthly expense for millions of Spaniards who, in their daily lives, need their car to be able to go to work, take their children to school or carry out other daily tasks.
Regarding the drop in fuel prices, this week it has again chained a new drop and marked its annual minimum in the case of diesel. As for gasoline, it is at its lowest since last February. In the specific case of diesel, the average price per liter stood at 1.424 euros, down 0.9% compared to 1.437 euros the previous week, to record its seventh consecutive drop and mark its lowest level since the beginning of June 2023, according to data from the Petroleum Bulletin of the European Union corresponding to last Monday.
Regarding the average price of a liter of gasoline, it decreased by 0.9% last week, falling to 1,551 euros. Thus, gasoline accumulates a decrease of 5.2% and diesel a decrease of 5.6% since they began a downward spiral in July.
Regarding the mortgages There was also some good news for the Spanish, especially for those who already signed a variable rate. In September, they will see the biggest annual drop since 2013 and the biggest monthly drop since 2019 after the Euribor settled at 3.173% compared to last August. This means that many people, when they return from their holidays, will have good news regarding the interest on their monthly mortgage.
The drop in the price of fuel and mortgages is good news for the pockets of millions of Spaniards who will have to juggle in September. After the excessive spending of the summer and the compression of the cards, comes a month of sacrifices in terms of healthy living and also financially. All this with the aim that the accounts reach in the best possible way the next events in which we will have to make a good expense similar to the summer: the vacation of Christmas who are already around the corner.
