Inflation figures in February were at 7.6 percent.
“It is a bad number that affects our economy, especially among the most vulnerable groups … given the out-of-control energy prices,” Prime Minister Pedro Sanchez told parliament.
Like the rest of Europe, it suffers Spain Since last year, they have been under the burden of high energy prices, while families and businesses have struggled to pay their electricity bills.
Since the beginning Russo-Ukrainian war On February 24, oil prices rose, and the transport and farm sectors in Spain staged protests and strikes to demand help with exorbitant energy prices.
The rise in inflation in March was due to the increase in electricity, fuel and food prices due to the war, according to the statistics office.
Sanchez’s government on Tuesday approved plans to allocate 16 billion euros ($17.5 billion) in direct aid and loans to businesses and families hit by the war.
The measures, which will be implemented until June 30, include a 20-cent rebate on each liter of fuel, 15 cents of which will be paid by the government and the rest by the fuel suppliers.
It also includes an aid package of 362 million euros for the agriculture and farms sector, 68 million euros for the fishing and aquaculture sectors, and a cap for a 2 percent rent increase.
For families, the rent increase for the next three months will be set at a maximum of 2%.
Spain will send, with Portugal, in the coming days, a proposal to the European Union to set a ceiling on fuel prices, against the background of the special statement announced by Brussels last week that allows the two countries to intervene in energy markets.
The government hopes that economic assistance and ways to separate fuel prices from the cost of electricity will ease internal tensions.
“We are convinced that the national response plan, especially the agreement reached in Brussels to set a reference price for fuel, will allow us in the near future to control the (inflation) curve and stabilize the cost of living,” Sanchez said.