2005 Instituto Juan de Mariana
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European Central Bank

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2006/10/19 - Jorge Valín

Year 2002, the Chaos Begins

According to a study in the financial daily Expansión, since the Euro was introduced in 2002, the cost of living has risen three times faster than salaries: having a coffee now costs double what it did in 2002; going to the movies is 33 percent more expensive; bread is up 60 percent; the prices for some fresh fruits and vegetables have jumped over 150 percent; chicken spiked 130 percent and textiles 40 percent. This year alone, rent for an apartment has increased 70 percent more than the Consumer Price Index (IPC).
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