Prices will rise with the new year
With the beginning of the new year, there will be rises in the prices of the different services and products of the company. There are significant increases in food prices, energy bills, municipal taxes and housing costs.
As far as the food sector is concerned, the application of the VAT reduction due to the economic crisis is suspended. In other words, the rate will rise from 2% to 4%, which will lead to an increase in many of the food. Olive oil, bread, milk, eggs, cheese, fruit and vegetables, among others. In addition, the VAT on pasta and oil will increase from 7.5% to 10%, once current taxes have been recovered.
Reduced taxes from previous years will also be abolished in the energy sector. The electricity tax is reduced to 21%, which will significantly affect household budgets. Natural gas prices will also rise, the individual rate will rise by 10%, and prices for residents at Community rates will rise between 13.5% and 18.3%, according to the resolution published this Tuesday in the Official State Gazette.
Municipal taxes will also undergo significant increases in 2025. In Vitoria-Gasteiz, the waste collection rate will rise by 100%, in Donostia-San Sebastian by 26.5%, in Bilbao by 5% and in Pamplona/Iruña by 4%. Charges will be increased by European Union and Spanish Government regulations, particularly as regards waste collection services.
House prices will also continue to rise. The average price of housing in Euskadi is 2,400 euros per square meter, while Gipuzkoa is the most expensive territory. However, mortgages will continue to fall, as the downward trend of the Eurybor rate will be maintained. Many families will therefore have a breathing space to pay for their mortgages. However, rent prices are expected to increase over time.
January 2025 will see a general rise in prices in several sectors and consumers will face food, energy, municipal fees and housing costs.
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