The strong increase in energy prices and bottlenecks in industrial supply chains are already having a clear impact on the prices of the products and will continue to have it in the year 2022. More than half of Spanish companies recognize In a survey conducted by the Bank of Spain that next year will have to raise the price of its products to the final consumer to impact the increase in its costs, double the companies that already recognized having done it in the final line of this anus.
This scenario worsens the expectations of inflation in Spain for next year after reaching the highest record in November in three decades. The conclusion reached by the financial institution is that a large part of the companies have so far absorbed the increase of their costs at the expense of their margin of benefits before the expectation that the crisis was a conjunctural, but that has a limit.
Specifically, in the fourth quarter of this year, almost 30% of the surveyed companies say and have had to raise their prices, 10 percentage points more than in the previous quarter. Looking at the immediate future, the companies that foresee have to do so in the first three months of 2022 and about 60% that will do so in the whole year.
Another factors that entrepreneurs indicate as an argument to raise their prices will be the foreseeable increase in labor costs in 2022. Almost two thirds of companies believe that their employees will get more expensive next year, either by the increase of Salaries linked to inflation - this year rises from a half by 1.5% -, to the lack of labor in sectors such as agriculture or construction, increasing the contributions recently approved by the government to finance the hole of Pensions or changes in labor regulations that may derive from the reform that the Executive plans to approve before December 31.
The situation has changed enormously in just one year, when the survey conducted by the Bank of Spain highlighted a reduction in prices and business margins in a context of strong drop in demand for the impact of the crisis. Although consumption continues to be staged by sanitary restrictions, companies now believe that the time has come to recover costs, although the study concludes that these will not be affected in their entirety in most cases.
"Overall, the expected increases for sales prices are still lower than those observed at the cost of intermediate consumption, which would target a compression of business margins," says the report prepared by the General Directorate of Economy and Statistics .
The response of companies also illustrates how companies are increasingly less concerned about the uncertainties linked to the evolution of the pandemic and, however, the fear that the current energy crisis and supplies will last more than expected and complicates the Exercise 2022.
Much of the companies trusted to have recovered this year the billing planned by the pandemic, but the brake of the economy is going to delay that improvement a year that comes or even beyond. In fact, 40% of the answers ensures that you do not know if you will be able to return to the preconvid billing levels even next year.
The Survey of the Bank of Spain coincides with the publication of the Central Directory of companies by the National Institute of Statistics, which certifies the death of 37,000 companies in the year of the pandemic. The record illustrates the loss of 8,451 food and beverage establishments, 8,199 dedicated to retail trade and 4,600 to wholesale trade. The construction was another of the areas with the greatest impact with the loss of almost 4,000 societies.
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Date Of Update: 13 December 2021, 15:10
