CCOO demands raising the SMI and wages in view of the IPC's rebound to 3.6% marked by the increase in fuel prices

Inflation is gaining ground again in Spain, placing workers in a new scenario of loss of purchasing power. The CPI stood at 3.6% year-on-year in July, four tenths above June's figure and at its highest level in two years. The rebound was mainly conditioned by the increase in fuel and electricity prices, with a special impact on transport, whose prices rose by 6.2%.

The price of fuels has thus become one of the main sources of pressure on prices this summer. Diesel registered a year-on-year increase of 15.7% in July, while gasoline increased by 7.3%. In recent weeks, diesel has reached over 1.80 euros per liter and gasoline over 1.70 euros, in a context marked by geopolitical tensions and the situation in the Strait of Hormuz.

Given this situation, the Comisiones Obreras (CCOO) union demands immediate action from the Executive to prevent the increase in prices from falling on labor income. Carmen Vidal, confederal secretary of Institutional Participation and Social Movements, considers it a priority to update the Minimum Interprofessional Wage (SMI): "With an inflation of 3.6%, it is essential to immediately review the Minimum Interprofessional Wage (SMI) to correct the upward deviation of prices compared to what was calculated in its approval."

The union organization also demands that the Government convene a meeting to address the impact of the energy escalation. Specifically, Vidal urges the Executive "to a meeting to assess the inflationary situation caused by fossil fuel prices mainly due to the blockade of Hormuz by the conflict between the US, Israel and Iran and the necessary measures to adopt for price control."

CCOO also focuses on collective agreements pending negotiation and defends that wage increases should be at the high end of the recommendations of the Agreement for Employment and Collective Bargaining (AENC), with increases of between 4% and 7%. "We will continue to push to strengthen collective bargaining, guaranteeing wage increases of between 4% and 7%. We link this objective directly to our fund for mobilizations under a clear premise: if employers do not share the profits, there will be conflict," warns Vidal.

CCOO calls for accelerating the protection of the lowest wages

The union also considers it urgent to complete the regulatory changes aimed at protecting those who receive the lowest remunerations. According to CCOO, the increase in fuel and electricity prices has been decisive in the advance of inflation, although the tax measures still in force have partially contained its impact. Without them, the organization maintains, the rate would have reached 4.1% year-on-year.

For this reason, Vidal urges the Executive to accelerate the transposition of European regulations on minimum wages: "We demand the immediate approval of the Royal Decree for the partial transposition of the European Minimum Wage Directive. We need the new absorption and compensation rules to come into force as soon as possible to truly and effectively protect the social sectors that receive the lowest wages."

The union contrasts the evolution of prices and wages with the situation of companies. CCOO points out that business profits remain at historically high levels, according to data from the first quarter of 2026 collected by the Business Margins Observatory, while wages agreed in collective bargaining agreements advance by an average of 3% until July, below current inflation.