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 almost no changes in Spain’s cost of living, the national economy’s recovery has also started affecting general prices. The national Índice de Precios de Consumo (IPC or Index of Consumption Prices, calculated monthly by the National Institute of Statistics) has increased between 1.5 and 3% in the last six months, mainly due to the rise of international oil prices, as well as that of electricity. This has not only caused an increase in the inflation level, but also a small loss of the average purchasing power, as most salaries have not grown uniformly.
Despite this small rise in Spain’s cost of living, the country is still one of the least expensive countries in Western Europe. In fact, the country registers the cheapest price for a basic shopping basket in the region, according to the most recent statistics by Eurostat.
On average, a family in Barcelona spends 2,112 USD a month on a basket of 122 goods and services, while Madrid residents spend 2,024 USD per month. In both cases, spending is lower than in the most important Western European capitals, such as Paris (2,426 USD per month), Rome (2,242 USD per month) or London (2,832 USD per month), and lower than spending in NYC (3,342 USD monthly).
This is just a brief sample of the extensive information in the GoinGlobal Spain Career Guide.