Spain considers drastic move to rein in food prices ...News

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Spain considers drastic move to rein in food prices
A government official calls for price intervention on essentials, saying “families can’t wait” The Spanish social affairs minister, Ione Belarra, has called on the government to bring down prices of basic products by introducing discounts, as food costs continue to rise in the country amid double-digit inflation. A reduction in value added tax (VAT, known in Spain as IVA) has proven insufficient as prices for essentials are still “the highest,” Belarra posted on Twitter on Thursday. She urged the ruling Spanish Socialist Workers' Party (PSOE) to subsidize the basic consumer basket by 14%. The minister also propose

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