SPAIN ECONOMY

Most of the basic food become more expensive in Spain after VAT reduction

epa10572340 A butcher shop at a market in Madrid, Spain, 14 April 2023. According to data released on 14 April by Spain's National Institute of Statistics (INE), most foods with the Value Added Tax (VAT) eliminated or reduced since the beginning of 2023, rose in price in March compared to the previous month. The Consumer Price Index (CPI) reflects that in March only edible oils that are not olive oil and fresh or refrigerated fruit fell in price compared to February 2023, by 2.9 and 0.2 percent, respectively. Since Spanish Government's decision to suppress or reduce the VAT on certain basic foods to contain inflation came into force in January 2023, most of the food items with reduced VAT have become more expensive. EPA/JAVIER LIZON

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