A study by economist Eugénio Rosa has highlighted the losses to salaries due to rising inflation, stressing that the minimum wage now has effectively ‘lost’ €48 per month, taking earnings that few can survive on even lower.
He stressed also that the government is making money out of inflation: “a product that costs €100, if you pay 23% IVA, the State receives €23.
But if the price rises to €110, the IVA brings the State €25.3…” Rosa’s study comes as more and more warnings stack up forecasting very difficult times to come.
