The projection of inflation until the middle of the year at least, and probably for longer in the opinion of many experts, threatens to generate a new source of social conflict. The unions are already warning that the negotiation of many agreements will be problematic because they will resist families losing more purchasing power, which has been lowered by 5 points after the closing of the CPI at 6.7, the highest since 1992 In turn, employers warn that uncertainty persists and that, under these conditions, there will be no wage increases. The average increase in agreements in 2021 was 1.49 percent, well below the 6.7 in which the cost of living has increased.
Time will tell if the unions are really going to be combative or if, as always when the left governs, they bluff. And it will also tell whether businessmen have room for maneuver. What makes no sense is that Moncloa continues to sell euphoria where there is only smoke.