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The year 2022 comes with an increase in prices for daily services. Know Everything That Changes – Economy

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The year 2022 comes with an increase in prices for daily services.  Know Everything That Changes - Economy

The coming year will be marked by a widespread increase in the prices that consumers will pay for the services they use on a daily basis.

Electricity is increasing for those in the regulated market, but also for consumers who have already entered the liberalized market.

Fares and transportation are also increasing, as are rents.

The known price updates for 2022 are as follows:


Electricity
The electricity price for households in the regulated market will rise by an average of 0.2% next year, the Energy Services Regulatory Authority (ERSE) announced on December 15.

“For consumers who remain in the regulated market (who represent 5% of total consumption and 915 thousand customers) or who, while in the free market, have chosen a similar rate, the average annual change in the transition rates from sales to end-users in low voltage is 0. 2%, ”the regulator said in a statement at the time.

However, ERSE notes that in January 2022, consumers will see an average drop of 3.4% compared to prices in effect in December this year.

Consumers of social tariffs will receive a 33.8% discount on tariffs for end users.

In a liberalized market, EDP Comercial’s electricity tariffs will rise by an average of 2.4% in 2022, corresponding to an increase in household bills of about 90 cents per month, reflecting rising electricity costs.

Endesa will maintain electricity prices for families and small businesses from January 1, an official source at an energy trader in the liberalized market told Lusa.

In turn, Galp will raise electricity prices from January 1, and this increase will amount to about 2.7 euros per month for the most representative contractual capacities, an official source at the company told Lusa.

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income
Rentals are set to rise 0.43% in 2022 after a freeze this year, the INE – National Statistical Institute’s October notice confirmed an increase of around 43 cents for every € 100 of income.

The 0.43% renewal rate for 2022 rural and urban leases, published in Diário da República, takes place after the freeze this year, following a negative change in the price index and an increase of 0.51% in 2020, 1. 15% in 2019. , 1.12% in 2018, 0.54% in 2017 and 0.16% in 2016.

fees
Motorway tolls are expected to rise by 1.84% in 2022, taking into account the October ex-housing inflation rate published by the National Institute of Statistics (INE).

Fare prices were flat in 2020 and 2021 after four consecutive years of growth: in 2019, motorway tolls increased 0.98% after increasing 1.42% in 2018, from 0.84% ​​in 2017 and 0.62% in 2016.

transport
The public transport price, which will take effect on January 1, 2022, will be updated by 0.57%, according to data from the Office of Mobility and Transport (AMT).

On the other hand, according to the president of the Porto Municipal Zone (AMP), Eduardo Vitor Rodriguez, prices for social passes in Porto in 2022 will remain unchanged.

The cost of one-time passes Navegante, Municipal and Metropolitano next year will remain at the level of 30 and 40 euros, respectively, according to Transportes Metropolitanos de Lisboa (TML).


telecommunications
Nowo’s official source told Lusa that “the e-communications operator is not planning any price updates for next year.”

Altice Portugal’s Meo “will update the base price of the monthly fee in tariffs / packages from January 1, 2022 in accordance with the terms of the contract,” an official said.

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The rest of the operators have not yet announced their decision.


mandatory checks
According to the decree published in the Diário da República, from January 1, the price of compulsory technical inspection of passenger cars will increase to 31.80 euros, and for heavy vehicles to 47.59 euros.

The increase in tariffs for technical inspection of road vehicles, provided for by the decision of the Institute for Mobility and Transport, comes into force on January 1, 2022 and is based on the latest INE update of the inflation rate (excluding housing), refers to November 2021, with an average annual rate of change (excluding housing accounting) 0.99%.

The definition presents the basic cost of passenger cars at € 25.85 plus VAT 23%.

The base tariff for heavy vehicles rises to 38.69 euros, plus VAT, for motorcycles, three-wheeled and quads – up to 13.02 euros, and for trailers and semi-trailers – up to 25.85 euros.

The base fee for re-checking checks increases to 6.48 euros, placement or replacement of registrations to 64.53 euros, an emergency fee to 90.25 euros and the issuance of a duplicate verification / certificate form to 2.43 euros.

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Economy

Miners and companies leave the cryptocurrency market en masse because it does not bring profit

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Mineração de criptomoedas

As we have been reporting over the past few weeks, the cryptocurrency segment is going through a less fortunate phase, with the valuation of currencies plummeting, leaving investors wary.

In this sense, this reality has several implications, including the fact that miners and companies operating in the sector are leaving the cryptocurrency market en masse as their mining is no longer profitable.


Miners and companies say goodbye to the cryptocurrency market

The cryptocurrency market is going through hard times and in particular, bitcoin, the most popular digital currency in the world, fell below $20,000 last Saturday (18), showing lowest value since December 2020. Not at the time of this writingthis cryptocurrency is worth $21,347.03.

So we are now seeing some of the repercussions and reactions to this fall in digital currencies. Recently, for example, we reported that we witnessed video card wholesale used for cryptocurrency mining.

And the latest news goes even further and indicates that, including due to the increase in the price of electricity, miners and companies investing in the cryptocurrency segment are now massively leaving that same market, since it has ceased to be profitable.

As you can see from the chart above, the TWh energy consumption related to Bitcoin had an interesting increase between mid-2021 and early 2022. But after some stable time, the same consumption has fallen sharply in past times.

At a peak of around 200 TWh, this consumption was the same as that spent by entire countries such as Argentina. Another interesting comparison is that this same consumption is equal to the amount of electricity consumed by all data centers around the world in a year.

But at the moment, even large companies that are betting on the practice of mining digital currencies are leaving this sector because they believe that it is currently a big problem when they cannot make a profit and bear the daily costs.

In addition, the energy consumption associated with Ethereum ends up having the same characteristics. As you can see in the chart above, there was a significant increase in January, which slowed down in recent weeks and then fell sharply.

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Economy

Prices have risen and uncertainty about the future advises saving. Find out how and where

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Prices have risen and uncertainty about the future advises saving.  Find out how and where

CNN Portugal spoke to an economist to see if the country should brace for a recession and put together some savings tips that could help mitigate the effects of a possible protracted economic crisis.

With a war in Ukraine with no end in sight, the times ahead will be challenging. Inflation continues to rise, while fuel, housing and raw materials lag behind. More and more important, though more difficult, is conservation.

Is a recession coming? According to Ricardo Ferras, professor of economics at the University of Lusofon and ISEG researcher, it is too early to talk about this scenario. “We know that the most recent forecasts from international organizations point to a slowdown in the Portuguese economy over the next few quarters. But, at least for now, they don’t see the country going into recession.”

“However, there is a huge unpredictability in the world, so any macroeconomic scenario has a high degree of uncertainty. and investments,” he added.

According to the economist, “a protracted economic downturn will certainly be synonymous with deep destruction of wealth. If household consumption and corporate investment collapse, there will be bankruptcies and layoffs.”

Since the beginning of the year, everything has risen in price and revenues do not keep up with this growth. According to a report by Ricardo Ferras, “Food and drink rose 7.6%” and combined “housing, water, electricity, gas and other fuel prices rose 7.7%.” Only fuel increased by “an astronomical 20%”. And all this within five months.

To try and alleviate these difficult times ahead, CNN Portugal also spoke to Natalia Nunez of Deco’s financial protection team. Despite the difficulties, there are exercises that can be done daily and that can save tens of euros at the end of the month.

From housing, fuel and grocery shopping, here are some of the specialist’s recommendations.

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Public transport or own car?

  • follow public transport user, the main advice is to find the pass that best suits your needs if you are not a Unified Social Pass user. “Sometimes there are municipalities that do some kind of discount for people over 65 or for young people, and people don’t know about it,” recalls Deko;
  • If you live relatively close to work, you can always choose to walk or bike;
  • If you really need to use own car, since there is no public transportation that gives the answer, decide to share the car with other people, whether they are colleagues or friends who work in the same place or in the same area. So you can split the cost of fuel or tolls;
  • Before fill the car, always try to compare prices at different gas stations and choose the one that offers the most affordable prices. O website of the Directorate General of Energy and Prices can help you in this search;
  • Avoid using the car for short distances that can be covered on foot;
  • try to have one economical driving: Avoid aggressive driving, try to maintain a constant speed and do not always accelerate and brake. Keep engine RPM as low as possible by using higher gears to keep RPM low.

Prepare for a trip to the supermarket

According to Natalia Nunez, it is “important for families to know how much they spend on food every month” in order to be able to set savings goals. After this analysis, here are the most practical tips:

  • Make a list before you go shopping. And maybe it’s not a good idea to do it in your head. It’s best to look in your pantry and write down what you really need so you don’t buy items that you end up having to spend or use;
  • Make a meal plan it can also help to create an even more stringent shopping list because you end up only buying what you know you’re going to eat;
  • Set a budget. Do not shop without setting a limit on the amount you are willing or able to spend. According to Natalia Nunez, “it’s important to shop for a while” in order to “be able to see and compare all the prices.” Don’t forget that the cheapest prices are not always at eye level on the shelves, they can be higher or lower;
  • Don’t be tempted by promotions. It is important to have an idea of ​​the original price of the non-promotion product in order to know if advertising is really paying off, even if they are promotions packages;
  • Still in the field of promotions you should be aware of product expiration. This is because it may be useful to take, for example, two detergents, but this does not apply to yogurts. If the deadline is too short, “we run the risk of spending the money”;
  • Don’t go to the supermarket hungry. This is one of the factors that tends to induce the consumer to buy more than he really needs.
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Try to cook as much food as possible at home, trying to avoid food waste.

Is it time to reevaluate your mortgage?

Natalia Nunez reminds us that the most important thing in this area is “to look at the level of our efforts”. providing home loan should not exceed 35% of net profit. “This is the golden rule,” he explains.

If your mortgage payment is about 45% of your monthly net income, you should try to understand if your conditions match those of the market. If this is not the case, you should call the institution where you have a mortgage and try to renegotiate the terms.

You should also check if the spread matches the values ​​that are practiced in the market. As? Running some simulations on banks websites or on Banco de Portugal banking customer portal. These simulators can be used by anyone and are a “good source of condition checking”.

You should also check the amount of insurance associated with your home loan. When applying for a mortgage loan, an agreement is also concluded with an insurance company and, as a rule, people forget to check whether these values ​​are still being adjusted. The rule is the same as for the spread, simulate or contact insurance intermediaries.

What charges do you pay to the bank?

If you have a single bank account that always has a cost associated with it, namely maintenance costs, consider requesting that this account be converted to a minimum banking account. According to Decaux, this is a way to “reduce costs”;

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You may have already wondered if it makes sense to have a savings account. Natalia Nunez believes that she does this only if “it’s not very expensive.” To do this, “we need to seek and negotiate.” However, a savings account remains the most efficient way to save some money.

If you do not have a savings account, you should not do two things: keep the accumulated money in a checking account, that is, in the account that you use every day; or even keep money in an envelope at home.

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Economy

The Bank of Portugal leaves notices. Falling home prices are a risk

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The Bank of Portugal leaves notices.  Falling home prices are a risk

Manuel de Almeida / Lusa

Mario Centeno, Governor of the Bank of Portugal

Banco de Portugal warns of risks and vulnerabilities in the economy that could disrupt financial stability, highlighting, in particular, housing prices, as well as declining household incomes and banking disruptions.

The Bank of Portugal (BdP) semi-annual financial stability report published this Friday presents falling prices in the residential real estate market as one of the biggest risks to financial stability due to “changes in funding conditions”.

The alert that appears when interest rates have risen after several years in the negatives.

“In the context of the recent higher growth in home credit, it is important to ensure that it does not play a decisive role for price dynamics in the real estate market“, notes the BDP.

The institution notes that “despite the uncertainty caused by the pandemic crisis, housing prices “continues to grow in Portugal”what is reflectiondemand for housing from non-residents“And from”supply shortage“.

Thus, it is extremely important that Bank loan Portuguese taxpayers will not affect housing prices, which will lead, for example, to a fall, the supervisory authority points out.

The BDP also rejects the prospect of a significant increase mortgage loan defaultOh, because of rising interest rates.

“Default issues, especially home loans, are closely linked to the labor market, and the labor market has shown a strong resilience that few expected“, – said the head of the BdP Mario Centeno at a press conference.

Centeno adds that forecasts for the Portuguese economy “demonstrate an evolution compatible with the resilience of the labor market, which very positive“.

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Declining household disposable income

The BdP report also warns of the risk of a deterioration in the economic situation of families due to “decline in real disposable income“due to inflationand the impact of higher interest rates on debt service, to which is added uncertainty about the evolution of economic activity and employment.”

The BJP governor says he is not ignoring the fact that the monetary policy normalization launched by the European Central Bank in December 2021 includes an interest rate hike cycle “because very negative interest rates did not create favorable conditions for economic growth and financial stability, especially if they continued for a long time.” However, he points out that it is necessary to ensure that there are “sufficient tools to support this change in the monetary policy cycle“.

companies default

The BdP also highlights the increased likelihood of companies defaulting due to the macroeconomic environment with inflationary pressureas one of the main financial stability risks.

The report states that this default risk is due to the “combined effect financial vulnerability of some companiesincomplete recovery of activity and profitability of some sectors in post-pandemic“, as well as “the current macroeconomic and financial structure”.

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