2023-12-31 17:29:31
2023 will be remembered as the year in which all eyes have been on the fight against inflation. Food has hit the roof, with price increases exceeding 10%, and Euribor has also reached record levels, reaching the highest rates since the crisis of 2008. Although it seems that the year is coming to an end with prices moderating and giving a little respite, the 2024 it comes with some services that will be expensive. They stand out taxis and the tolls, which will rise by around 3% from next Monday; and the public transport, which increases the prices of the most used titles from the middle of January. During the next year it will also increase price of water and gradually the taxes to the electricity bill and the gas. Despite these increases, the free membership of Rodalies is maintained throughout the year and for at least six months the bonus of theVAT on food (no tax on basic products and 5% on essential products, such as pasta and oils).
The water bill is getting more expensive
As of this Monday, theincrease of 33.7% of the tariff water average, which will go from 0.74 to 0.99 euros per cubic meter. The Catalan Water Agency calculates that the increase will have a impact of one euro per person, despite the fact that the final amount may vary depending on each municipality. The company justified the increase due to the fact that rates had not been reviewed since 2017, the context of drought, and the increase in the price of light and the cost overrun that this causes in the use of desalination plants.
Gradual increase in VAT on light and electricity
During this 2024, the VAT on light and electricity will also gradually increase. Derived from the normalization of energy prices, the last Council of Ministers of the year of the Spanish government opted for withdraw progressively THE bonuses.
Thus, the special tax on electricity will be reduced during the first six months of the year and from July it will rise to 3.8%. Along the same lines, the tax on the value of electricity production, which is now suspended, will gradually recover its usual value. In relation to electricity, it should be remembered that the new regulated tariff (PVPC) also comes into force this Monday, which aims to reduce the “volatility” of prices and make bills more stable, according to the Spanish government. As for gas, it will also go up to 10% from January 1 and until March. After the winter, the normal rate of 21% will be restored.
Rents, limited to 3%
On the other hand, the Spanish government maintains the limitation of raising rents in the update of incomes, which this year will be 3%, and not 2%, as in 2023. The measure was approved to avoid that, in the review of contracts which are updated with theIPCa tenant could see the price of the house increase by over 6 or 10% when inflation was skyrocketing.
As for the mortgages, December has closed with the Euribor below 4% for the first time in months, after the sharp rises recorded throughout the year. This can mean savings for those with variable rate mortgages who have to make a half-yearly review. ASUFIN calculates a saving of about 19 months per month on a mortgage of 100,000 euros for 25 years with Euríbor +1% which must be reviewed now.
The most common transport tickets increase in price
After three years with frozen prices, this January they are becoming more expensive public transport tickets more common They will do so, however, from Monday 15. The Autoritat del Transport Metropolità (ATM) will raise fares by 6.75% in the metropolitan area of Barcelona, while in the rest of the areas they will do so by 3%.
At Renfe, commuter and medium-distance passes are still free, as long as you make a minimum of 16 journeys during the quadrimester. Avant tickets also continue with a 50% discount. The operation of these titles is the same as throughout 2023.
The Generalitat’s tolls are about 3% more expensive
The four tolls managed by the Generalitat will raise rates between 3.33% and 3.5% from this Monday. The most important increase is that of the C-16 in the section between Sant Cugat, Terrassa and Manresa, which will cost 3.5% more (for example, the toll between Sant Cugat and Terrassa from Monday to Friday for a tourist will increase from 1.62 euros current to 1.68 euros). The rest of the tolls will rise by 3.33%, so that crossing the Cadí Tunnel for a tourist will go from the current 13.48 euros to 13.92 euros. In turn, the Vallvidrera tunnels will be 14 cents more expensive at off-peak hours, up to 4.48 euros; and 16 cents more at rush hour, up to 5.04 euros.
The new rates are set by taking the annual variation of the Consumer Price Index (CPI) for the month of October, which was 3.5% in the State. The formula also takes into account a correction coefficient between the actual traffic and that predicted years ago. The increase in rates that will take place from next Monday is slightly lower than a year ago, when they increased between 6.5% and 7.3%.
In relation to tolls, it should also be remembered that from next January 1st the discounts will also be extended to the C-16 and C-32. On the C-16, the morning rush hour will be brought forward to 6.30 a.m. on non-holiday discounts, which apply to the Sant Vicenç de Castellet barriers in both directions. On the C-32, the discount for compulsory mobility is increased to 75% in the section between Sitges and Vendrell with the aim of making the motorway “more attractive” and reducing traffic on the C-31 (currently the bonus is 70%).
In terms of transport, from next Monday the bonus of five cents per liter of fuel that the carriers maintain – it must be said that fuels have closed 2023 at annual lows and have been dropping in price for weeks.
Pensions rise by 3.8%
With the change of year, the pensioners they will also see how their salaries go up. In accordance with the revaluation linked to the CPI approved in the last council of ministers, pensions will rise by 3.8%. The average retirement pension in Spain will therefore increase about 52 euros per month and a total of 734 euros all year. The average pensions of the entire system – which stands at 1,200 euros – will experience an increase of around 46 euros per month, up to 638 euros per year.
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