Governments around the world are facing political pressure, protests and work stoppages aimed at forcing action on soaring consumer prices. While people are feeling the pinch, there's not too much politicians can do to bring lasting relief.
seeing more intense efforts such as protests and work stoppages tied to complaints about inflation, which has surged as the global economy rebounded from the pandemic, increasing demand for smaller supplies of energy and snarling supply chains.
While governments are taking action, they have few effective resources to bring meaningful, lasting relief, economists say, offering short-term aid that likely will do little to combat surging prices. That’s up to central banks, some of whom have startedSpain’s inflation is at a 29-year high of 5.5%, and like countries worldwide, one of the biggest drivers is: gasoline has risen 63%, while electricity for households and businesses is up 47% over the past year.
This week, dozens of trailer trucks rolled slowly through Madrid in a “slow march” protest.
“This is not only about fuel prices, but they are affecting our bottom line and the economic viability of our companies,” said Carmelo González, vice president of the Spanish Confederation of Freight Transport, who lead talks with the government.Jaume Hugas, professor of logistics, innovation and data science at ESADE business school in Barcelona, said inflation is a common thread through protests by different sectors of Spain’s economy.
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