The Globe and Mail, in its August 30, 2012 article, reports that Inflation adds to Spanish woes with jump to 2.7 per cent.
Extract :
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Spanish consumer prices surged in August driven by
higher fuel costs and a value-added tax hike in September could drive another
jump, complicating Spain’s efforts to get out of recession and generate
the growth needed to reduce its debts.
EU-harmonized consumer prices rose by 2.7 per cent
year-on-year in August, flash data from the National Statistics Institute
(INE) showed on Thursday, up from 2.2 per cent in July and much higher than a
market consensus for an unchanged reading.
Prices could well rise further from September 1 when
value-added tax rises to 21 per cent from 18 per cent, raising prices for
consumers already struggling under the weight of falling wages and
unemployment of almost 25 per cent
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