US EditionSpain Economy: Iran War Threatens to Push Inflation Above Three per Cent
12 Articles
12 Articles
The war that Israel and the United States have waged since last Saturday in Iran, with resonances throughout the Middle East region, threatens to trigger consumer prices above 3% by summer and to slow down by two tenths the pace at which the Spanish economy is growing. Thus, it is evident from a special report by Funcas — the centre of studies of the old savings banks — published on Friday. One of the first analyses that dare to put figures on t…
If the contest lasted longer, or if key facilities and infrastructures were destroyed leading to significant disruptions in the flows of energy products - oil, gas, or derivatives - the scenario would be significantly more negative, they warn Read
The Savings Banks Foundation (Funcas) expects inflation to rise above 3% by summer.
With the ongoing war and the narrow strategic of Ormuz closed, the repercussions on the Spanish economy are assured, but still to a very high degree of uncertainty in the absence of being able to estimate the duration of the conflict. From this scenario, Funcas has carried out a first analysis with a conservative exit point, that the war lasts three months, which would lead to an increase of inflation in Spain above 3% from here to summer, to th…
According to the study service, the energy shock will be a temporary 'bache' if the closure of Ormuz lasts three months. More information: Moncloa asks ministries to prepare contingency plans for the impact of the war in Iran
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