In 2020 and 2021, the excess savings accumulated by households in Spain approached 130,000 million euros. A historical figure that was concentrated among the wealthiest families, who kept their incomes practically intact during the pandemic, but were unable to spend normally. The use of this money bag is the key to the overall economy in the current inflationary crisis. But, for now, it does not support consumer resistance to rising prices, as the Bank of Spain warned in a report published this Monday.
Source: El Diario