Industry, Trade and Tourism Minister Reyes Maroto outlined plans on Monday as the government weighs the next steps. Officials are close to deciding whether to extend the set of measures already approved in the national response plan, a package designed to address the economic and social ripple effects of current events. The aim is to keep inflation under control and protect household budgets without sacrificing the competitiveness of local businesses. The context remains the ongoing challenge of inflation pressures that are affecting households and firms alike.
Speaking to reporters before the opening of the conference focused on improvements for small and medium-sized enterprises, the minister stressed that the government is carefully assessing how effective these measures have been. This assessment is meant to guide prudent decisions that balance immediate relief with long-term economic resilience. The approach is deliberately data-driven, with decisions anchored in up-to-date economic indicators and real-time feedback from industry sectors.
Among the potential steps under consideration is extending the visibility and impact of the measures already established through the response plan. This could include continued incentives and temporary tax reliefs that reduce the burden on electricity costs and other energy-related charges, as well as targeted support designed to ease price pressures across households and businesses. The objective is to preserve consumer purchasing power while ensuring the energy supply remains reliable and affordable for productive sectors.
In the broader picture, leaders are focused on mechanisms to temper price growth, particularly in energy and essential raw materials where volatility has been most pronounced. This effort follows the latest consumer price index data, which showed May inflation rising to 8.7 percent, a figure that underscores the urgency of timely and effective policy measures to shield households from sharp cost increases.
The government stresses a proactive stance, ready to roll out additional tools as needed to dampen price swings and to support families facing higher living costs. The commitment includes maintaining the stability of household income while safeguarding the competitiveness of the business sector. These actions are part of a continual effort to sustain economic momentum and to reduce the burden that comes with price spikes across essential goods and services.
In related moves, officials indicated that a significant measure will be introduced this week with the aim of limiting wholesale gas prices. This initiative is expected to ease costs for both consumers and industrial producers, potentially translating into lower energy bills and more predictable operating expenses for manufacturing and other energy-intensive activities. The government hopes this intervention will contribute to a noticeable price reduction and provide confidence to markets and households alike, reinforcing the investment climate and everyday purchasing power.