Nadia Calviño, First Vice President and Minister for Economic Affairs and Digital Transformation, forecasts that inflation will stay high through the summer before easing in the autumn. She notes that price pressures are likely to persist in the near term, but the trend may shift as policy actions take effect and energy markets recalibrate.
She told La Hora de La 1, in an interview reported by TVE via Europa Press, that people should expect a very sharp rise in prices during the summer, with a gradual moderation beginning in the fall. The message emphasizes the need to balance short term pressures with longer term stability as Europe coordinates responses to inflationary forces. This perspective reflects the ongoing assessment of how policy tools, including monetary and fiscal measures, will interact with global commodity prices. Source attribution: La Hora de La 1, TVE via Europa Press.
Calviño argued that the actions of the European Central Bank and the government should be coordinated to cushion the impact of rising prices on households. She also pointed out that grain and oil prices have declined in international markets, a trend that is expected to eventually translate into lower costs for consumers. The analysis highlights how shifts in global commodity prices can ripple through to domestic prices and household budgets. Source attribution: La Hora de La 1, TVE via Europa Press.
Supports the rejection of the EC recommended mandatory gas cut
Calviño expressed agreement with Teresa Ribera, vice president of Ecological Transition and Demographic Challenge, in opposing a mandatory reduction of gas consumption as proposed by the European Commission in scenarios of gas shortages or exceptional demand. The stance emphasizes the need for targeted, effective measures rather than one size fits all mandates. The goal is to preserve energy reliability while pursuing solidarity across Europe. Source attribution: La Hora de La 1, TVE via Europa Press.
“We will stand with the rest of Europe, but we must do so with policies that are truly effective. Solidarity cannot be built on uniform cuts in gas use that fail to reflect national circumstances”, the economy minister stated in the interview. The comment underlines the importance of a measured approach that accounts for how different economies are affected by energy dependencies and market structures. Source attribution: La Hora de La 1, TVE via Europa Press.
In this context, Ribera has urged Spain to offer recommendations to Brussels as part of the energy plan while resisting impositions that do not fit the country’s situation. The leadership emphasizes that national and European strategies must align with practical realities on the ground, ensuring that measures to maintain energy security do not undermine economic resilience. Source attribution: La Hora de La 1, TVE via Europa Press.
Ribera says Spain will make recommendations for Brussels plan, but not energy impositions
Calviño argues that Spain faces a markedly different situation from other large European economies such as Germany or Italy. He notes that Spain is not heavily dependent on Russian gas, possesses about a third of Europe’s regasification capacity, and benefits from a high share of renewable energy. These factors, she explains, shape Spain’s ability to contribute to energy security without compromising its own energy mix. Source attribution: La Hora de La 1, TVE via Europa Press.
Spain’s approach, according to Calviño, should advance energy security through strategic participation in gas and electricity markets. The aim is to strengthen the continent’s resilience by leveraging Spain’s unique energy assets while avoiding moves that could increase vulnerability. The clear message is that solidarity on energy must balance mutual support with prudent national choices. Source attribution: La Hora de La 1, TVE via Europa Press.