The shock of the skyrocketing inflation that Spain has suffered for more than a year is emptying the pockets of all pensioners, despite the revaluation of their pensions at the beginning of 2022 (4.1% in total). The latest data published by Social Security show that the average old age pension in October was 1,257.9 euros per month, almost 5.4% higher than in the same month of 2021. This increase, however, is not enough to maintain the purchasing power of the people who are currently receiving 5.4% more than a year ago, since the Consumer Price Index (CPI) has skyrocketed almost 9% (8.9% annual increase based on September data) in the last year.

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