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Portugal

Fresh price rises mean further cuts to Portuguese living standards

IN BRIEF /  PORTUGAL Further cuts to living standards for the Portuguese people are in the pipeline as a result of sweeping across the board price rises. A series of price hikes hit everything from supermarket and utility bills to telecommunications and tobacco prices, reports Lusa news. According to statistics agency INE a fifth of Portugal’s population survives on less than  Euros 360 per month, or Euros 4,321 per year, with incomes only increasing by around two percent in 2011 while the top 100 richest people in Portugal saw their fortunes increase by around 33%. Inflation, running at 3-4% last year considerably outstripped wages for most people. Portuguese workers, along with those in the Republic of Ireland, are expected to get the lowest pay rises in the Eurozone in 2012. More on this year’s pay cut for the Portuguese at this Revolting Europe post

About revoltingeurope

Writer on Europe's Left, trade union and social movements @tomgilltweets or @revoltingeurope

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