Cost of Living
GoinGlobal’s career experts regularly update details about inflation, purchasing power, and costs of goods and services. Below is a brief excerpt from this section:
After years of stability, Spanish prices increased slightly in recent years. The national Index of Consumption Prices, however, recently marked one of the largest decreases since 2016. The national inflation rate is at its lowest point in recent history, at an annual rate of 0.33%. These changes suggest that the country’s economy is getting closer to a new slowdown, which will likely freeze both prices and salaries.
Despite these fluctuations, Spain is still one of the least expensive countries in Western Europe. It registers below-average prices for most basic consumer items in the region, according to the European Union’s statistical office Eurostat.
Prices (including rent) in Madrid and Barcelona are about 35% lower than in New York City (the index’s base city), according to UBS Bank’s latest Prices and Earnings survey. Spain’s cost of living (excluding rent) is approximately 25% cheaper than in the United States.
This is just a brief sample of the extensive information in the GoinGlobal Spain Career Guide.