Spain and France’s Inflation Rate Highest in Four Decades 

The inflation rate in Spain and France has reached 10.8%, and 6.1%, respectively. 

The inflation rate may have slowed in the US, but elsewhere, it’s a different story. In fact, both France’s and Spain’s inflation rate has increased to a level not seen in almost four decades. Official figures are concerning.

Crypto adoption in both countries has been on the rise. But will the upcoming financial strains have negative implications on the crypto industry?

Spain and France’s Tale

Spain’s annual inflation rate hit 10.8% in July, a little above market expectations of 10.6%. Official data shows that the figure is the highest since 1984. Bank of Spain, in a recent report, found inflation to be one of the biggest problems plaguing the country. A wave of institutional instability triggering, as a result, cannot be undermined.

However, inflation can potentially drive crypto adoption in the Iberian nation. Even though Spain’s adoption level is far behind the other developed and developing economies, the popularity of the asset class in the country has followed an upward trajectory.

As reported earlier, the National Securities Market Commission (CNMV) has estimated that nearly 7% of Spain’s adults have invested in crypto. The Spanish regulator surveyed 1,500 adults in the country to find out what chunk of them have allocated some of their funds to the digital asset market. Individuals belonging to this cohort, interestingly, happen to be young,  educated, and well-paid individuals.

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