Spanish incomes fall to 2002 levels

Spanish incomes have dropped to a the same level as a decade ago, according to El Pais. The report says that the average Spaniard earns €18,000, which thanks to inflation has less purchasing power than in 2002.

However, that figure is higher than I remember Spanish salaries of ten years ago and I think that the article is trying to say that income has fallen in real terms (i.e. inflation adjusted) rather than the nominal value of incomes falling.

Source: El Pais

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