Households squeeze their savings and manage to protect their wealth from the first blow of inflation

Households squeeze their savings and manage to protect their wealth from the first blow of inflation



bruno perezMadrid Updated: 04/12/2022 11:47 a.m.
Save

The financial wealth of families increased by 9.4% in 2021 and allowed household economies as a whole to overcome the onslaught of the first phase of the inflationary spiral, that derived from the rise in electricity prices and prior to the tensions derived from the crisis of the conflict in Ukraine. According to the data provided this Tuesday by the Bank of Spain within the Financial Accounts of the Spanish economy for the fourth quarter, the volume of financial assets in the hands of households increased by more than 7% due to equal parts to the deposit of a large part of the savings accumulated during the pandemic in bank accounts and also to the revaluation of their investments in business shares and investment funds.

The growth of financial assets and the stagnation of family debts, which practically did not increase in 2021 and even reduced their weight in terms of GDP (from 62.4% to 58.4%), made it possible to improve the picture of the financial situation of families, who closed the year with close to 2.7 billion euros in financial assets and a favorable net balance of close to two billion.

Regarding its composition, most of the financial assets of Spanish households continue to materialize in bank deposits (38%), followed by capital shares in companies (29%), shares in investment funds (15%) and pension savings -insurance and pension funds-, by 14%.

View comments



Source link