Eurozone creaking at seams as Spanish inflation soars to 13-year high – EU warning

In Spain, the high cost of transport – which has also soared during the pandemic – and shortages of key production materials, are putting pressure on a sector that is having problems coping with increased demand.

As these factors stabilise in the coming months, many analysts agree that the rise in inflation will gradually dissipate.

Spain’s financial crisis, also known as the Spanish Great Recession, followed the world financial crisis of 2007-08.

In 2012, the country was unable to bail out its financial sector, and had to apply for a €100 billion rescue package provided by the European Stability Mechanism.

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