The Government expects the CPI to begin to fall in a month after the record in July

The Government is trying to send a message of calm after inflation has skyrocketed to 10.8% in Spain during the month of July, and assures that it is already working with a scenario of a slowdown in prices starting in September. This has been pointed out by the Minister of Economic Affairs and Digital Transformation, Nadia Calviño speaking to the media of communication in Vigo, where she has gone to be the herald of the act of celebration of the Day of Galicia in the city.

The minister has assured that both the European Central Bank (ECB) and the Bank of Spain foresee that the prices slow down from the next month, but has claimed that Moncloa has already taken measures that are being effective in containing the rise in prices and supporting family incomes. Calviño has lamented the significant rise in prices of energy in international markets and other raw materials as a result of the war in Ukraine, which, according to her, accelerated the increase in prices in Spain.

“With Vladimir Putin (President of Russia) we have to prepare for the worst and that is what we are doing, adopting with our European partners a set of measures that are effective to cushion the possible impact of their decisions”, claimed the vice president. first of the Executive of Pedro Sánchez. All this after the INE confirmed this Friday that the Consumer Price Index fell 0.3% in July compared to the previous month, although its year-on-year rate shot up to 10.8% points, its highest level since September of 1984 and six tenths above that registered in June.

Regarding the gas pipeline project proposed by Germany that would run through Spain and Portugal to supply the rest of Europe, Calviño welcomes this initiative and argues that Spain must be generous with the rest of Europe.”We have to be in solidarity with those countries who are currently more exposed to war, who are more vulnerable before the decisions that Putin can take in the field of gas”, he continued.

The First Vice President considered that Spain is in a good position because “fortunately” there is diversification of supply, by having, as it has specified, almost a third of the regasification capacity and therefore gas storage, and therefore there is a willingness to become a logistics center that can supply gas to the rest of Europe. But, Calviño has clarified, “for this we have to reinforce the interconnections, also electrical, both with France and with Italy, and for this reason, from the Government we welcome the initiatives that have to be addressed by the whole of the EU to improve the strategic autonomy of the EU as a whole in this complex international context”. Regarding financing and the possibility of using European funds, he said that “we are going to see what the most appropriate form of financing is, but it is clear that these are infrastructures that benefit the whole of the EU and, therefore, they must have EU funding”.

Source: LA INFORMACIÓN – Lo último by

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