Retail sales in Spain declined in November
2022.12.29 07:33
Retail sales in Spain declined in November
Budrigannews.com – The National Statistics Institute (INE) reported on Thursday that seasonal and calendar-adjusted retail sales in Spain decreased by 0.6% in November, following an increase of 1.0% in October.
According to INE, food sales in Spain decreased by 3.6% annually in November as consumers struggle with the rising cost of living brought on by the war in Ukraine.
Other goods sales, on the other hand, increased by 0.5 percent annually.
The value-added tax on essential foods will be reduced from 4% to 0% in the first six months of 2023 as part of a new package of measures worth 10 billion euros ($10.64 billion) announced by Prime Minister Pedro Sanchez on Tuesday.
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Spanish consumer prices increased 6.8% in November, down from 7.3% in October, primarily due to lower fuel and electricity prices and a more moderate increase in clothing and footwear prices for the new season compared to 2021.
