Spain’s Inflation Levels Hit 13-Year High Driven by Increasing Energy Costs

Inflation levels in Spain surged to a 13-year-high in September driven by increasing energy costs, among other things, data from the National Statistics Institute (INE) showed on Wednesday. The flash indicator prepared by the INE (pdf) showed that national consumer prices rose 4.0 percent year-on-year, the highest reading since September 2008, when the rate was 4.5 percent. The increased inflation levels are mainly attributed to rising electricity prices, although tourist packages prices falling more in 2020 than this year, and the cost of fuel and oil for personal vehicles rising also play a role, according to INE. Spain is just one of several European countries facing soaring energy bills as gas prices have risen more than 35 percent in the past month amid lower supplies and a surge in demand as pandemic-hit economies around the world reopen, prompting fears that there is simply not enough gas stored up for the winter if temperatures were to be particularly …

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Commentary In his famous 1947 article “The Sources of Soviet Conduct,” the American diplomat and historian George Kennan described the “innate antagonism” between socialism and capitalism and how this had become “deeply embedded” in the foundations of the Soviet regime, making peaceful coexistence between the Soviet Union and the West […]
Post-Meng and Release of the Michaels, Canada Needs Tougher China Policy

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