Families have slashed consumption of everything from cars to food, figures have shown Spain is reeling from one of the sharpest drops in real income in the EU, an Adecco Salary Monitor on Wages report showed this month. The country has seen both a sharp erosion of purchasing power and dwindling consumption. While the average wage increased by 4% in 2022 and reached €1,822 ($2,029), soaring inflation has eaten away at the spending power, which is 7% down on 2008, during the global financial crisis, data showed. Headline inflation decreased to 1.9% last month after hitting 10.8% in June 2022. But even with lower
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