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STATISTICS

Tortilla Index reveals rising food prices

The latest Tortilla Index figures show that prices of many basic foodstuffs in Spain have gone up in the last 12 months.

Tortilla Index reveals rising food prices
Tortilla, or Spanish omelette, is a staple dish across Spain. Photo: Luca Nebuloni

You might have heard of the Big Mac Index which compares product prices around the world using the average cost of a McDonalds hamburger as its chief indicator.

Now La Nueva España newspaper in Asturias has given this a Spanish twist: the Tortilla Index. 

The paper reported on Thursday that inflation is biting into the humble Spanish tortilla. 

Consumer price index figures show costs for the three main ingredients in the tortilla have gone up in the last 12 months. Potatoes are up a third on February last year, oil is 19 percent more expensive, and customers are having to fork out an extra 12 percent for eggs.

The cost of living has gone up 2.8 percent in the last year, Spain's national stats office the INE reported on Wednesday in its latest consumer price index report.

Food prices have climbed 2.7 percent in the same period.

Other items which have risen in price include electricity and gas — up over 7 percent in the last year — and medicines, up 12.9 percent in real terms according to the INE.

Clothing and footwear, meanwhile, have dropped in price by 1.8 percent, a result the stats body put down to the influence of the winter sales.

Also falling in price were fresh sea food (4 percent lower) and lamb, which is now 7.5 percent cheaper than a year ago.

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ECONOMY

Spain’s middle-class youngsters the most likely to end up poor across all EU

Spain leads the ranking of EU countries with the highest risk of young people ending up in poverty as adults, despite coming from families without economic difficulties.

Spain is the fourth EU country with the highest inherited poverty
Spain is EU country with most middle-class young people who end up poor. Photo: Jaime ALEKOS / AFP

Spain is also the fourth EU country with the highest rate of inherited poverty risk, according to Eurostat, the EU Statistical Office.

Data on intergenerational poverty indicates that there is a correlation between the financial situation of the household you grew up in and the risk of being poor when you reach adulthood and in Spain, there is a strong link. 

The latest statistics available from 2019 show that the at-risk-of-poverty rate for the EU was 23 percent among adults aged 25 to 59 who grew up in a poor financial situation at home when they were 14 years old. This is 9.6 percentage points more than those who come from families without financial problems (13.4 percent). 

READ ALSO: Spain’s inflation soars to 29-year high

How the situation in Spain compares with the EU

Spain has become the EU country with the highest risk of poverty among adults who grew up in families with a good financial situation  – 16.6 percent.

This was followed by Latvia with 16 percent and Italy with 15.9 percent.

That statistics also show the countries where it is less likely to be poor after growing up in households without economic difficulties. These include the Czech Republic (5.9 percent), Slovakia (7.9 percent) and Finland (8.5 percent).

The overall poverty rate in the EU decreased by 0.1 percentage points between 2011 (13.5 percent) and 2019 (13.4 percent), but the largest increases were seen in Denmark (1.9 points more), Portugal (1.8 points), the Netherlands (1.7 points) and Spain (1.2 points).  

On the other hand, the biggest decreases in the poverty rate were seen in Croatia (-4 percent), Lithuania (-3.6 percent), Slovakia (-3.5 percent) and Ireland (-3.2 percent).

READ ALSO: Spain’s government feels heat as economic recovery lags

Inherited poverty

The stats revealed that Spain was also the fourth country with the highest rate of inherited poverty risk (30 percent), only behind Bulgaria (40.1 percent), Romania (32.7 percent) and Italy (30.7 percent).

This means that children of poor parents in Spain are also likely to be poor in adulthood. 

The countries with the lowest rate of inherited poverty risk were the Czech Republic (10.2 percent), Denmark (10.3 percent) and Finland (10.5 percent).

The average risk-of-poverty rate for the EU increased by 2.5 percentage points between 2011 (20.5 percent) and 2019 (23 percent), with the largest increases seen in Bulgaria (6 points more), Slovakia and Romania (4.3 points), Italy (4.2 points) and Spain (4.1 points).

The biggest drops were seen in Latvia (-8.5 points), Estonia (-8.0 points) and Croatia (-2.3 points). 

The largest gaps in people at risk of poverty when they reach adulthood were in Bulgaria (27.6 percentage points more among those who belong to families with a poor economic situation as teenagers compared to those who grew up in wealthy households), Romania (17.1), Italy (14.8), Greece (13.5) and Spain (13.4).

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