Price increases coming in 2024

In 2023, Spain fought hard against inflation, which had soared to over 10% in the summer of 2022. The country closes 2023 with a rate of change of prices at just 3.1%, according to preliminary data.

Food, however, has been an outlier in this trend, with price increases of over 10% this year, while the continental Euribor bank also reached record levels.

In 2024, some services will again become more expensive.

Yet, discounts on public transport tickets will still be in effect for regular users, while Rodalies journeys will remain free for 202, while VAT on basic foods will be kept at 0%.

Here's a guide to price increases we're about to see next year in Catalonia. 

Public transport tickets

After three years with frozen prices, most public transport tickets are increasing in price in January.

From Monday the 15th, tickets will be 6.75% more expensive in Barcelona and its metropolitan area, while other areas will see 3% price increases.

The T-casual and single tickets do not have discounts, so with the increase in rates the single-person card for 10 trips will cost €12.12, while a single journey will cost €2.56.

The T-usual (one-month single-pass) and the T-jove (single-pass for under 30s) will maintain their 50% discount. The monthly pass will cost €21.35, (up bt €1.35), and the T-jove with unlimited trips for commuters under 30 will cost €42.70, instead of the current €40.

Taxis

Taxi fares in the Barcelona metropolitan area will also rise by around 3%.

Specifically, from Monday to Friday during the day - rate 1 - taking a taxi will cost €1.27 euros per kilometer, four cents more than this year.

At night, on Saturdays and on holidays - rate 2 - taxis will cost €1.56 per kilometer, five cents more.

Rate 4 will see the most significant price increase; the journey from Adossat pier, where many cruise ships dock in Barcelona, to the airport. This journey will be 15.4% more expensive. This year such a journey costs €39, but in 2024 it will climb to €45.

Tolls 

The four tolls managed by the Catalan government will see rates raised by up to 3.5% from this Monday.

These roads include the C-16 in the section between Sant Cugat, Terrassa and Manresa, which will cost 3.5% more. The toll between Sant Cugat and Terrassa from Monday to Friday for a regular car will increase from €1.62 to €1.68.

The rest of the tolls will rise by 3.33%, so that crossing the Cadí Tunnel in a regular car will go from the current €13.48 to €13.92.

In turn, the Vallvidrera tunnels will be 14 cents more expensive at off-peak hours, up to €4.48 euros, and 16 cents more at rush hour, up to €5.04.

The new rates were set by the inflation rate seen in Spain in October, which was 3.5%.

Also related to transport, from Monday the discount of five cents per liter of fuel will expire. Fuels prices have ended 2023 at annual lows and have been falling in price for weeks.

Water 

From Monday, water will increase in price by 33.7%, going from €0.74 to €0.99 per cubic meter.

The Catalan Water Agency justified the increase due to the fact that rates had not been reviewed since 2017, the context of drought, and the increase in the price of electricity and the cost overrun that this causes in the use of desalination plants.

However, the impact on consumers' bills in the 23 municipalities supplied by Aigües de Barcelona is expected to be seen from March, with an average increase of around €5 per bill.

Gradual increase in VAT on electricity

During 2024, the VAT on electricity will also gradually increase.

Derived from the normalization of energy prices, the Spanish government's last Council of Ministers of the year chose to progressively withdraw the discounts offered.

Thus, the special tax on electricity will be reduced during the first six months of the year and from July it will rise to 3.8%.

Rents, limited to 3%

The Spanish government has maintained a limit on rent increases this year, but the threshold has been raised from 2% to 3%.

Rents can be increased annually in line with inflation, and this measure was introduced in 2022 to avoid tenants experiencing rent increases of up to 10% when inflation was skyrocketing. 

In terms of mortgages, December closed with the Euribor below 4% for the first time in months, after the sharp rises recorded throughout the year. This can mean savings for those with variable rate mortgages who have to make a half-yearly review.

Pensions

With the turn of the year, pensioners will also see their payments rise.

In accordance with the revaluation linked to the inflation rate approved in the last government ministers meeting, pensions will rise by 3.8%.

The average retirement pension in Spain will therefore increase by around €52 per month and a total of €734 for the year.