Spain October pension spending hits record €14.54B, up 6.3% YoY

Spanish pension expenditure rose 6.3% year-on-year in October to a record €14.54 billion, with average retirement pensions up nearly 4.5% to €1,577.6/month. The increase reflects indexation to inflation and demographic pressures, adding to fiscal sustainability concerns. The data is a single-month observation; the trend's persistence and impact on the budget deficit remain uncertain.

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