Pensions will rise 2.7% next year after learning that inflation moderated to 3% in November
The fall in electricity prices moderated November inflation by one tenth, so the interannual rate remains at 3%. The advance of the CPI data published this Friday by the National Institute of Statistics (INE) points to a pension increase of 2.7% next yeargiven that its revaluation is linked to the average increase that prices register between December of the previous year and November of this year. However, the increase will be confirmed on December 12, when the final inflation data is published.
As confirmed by the Ministry of Inclusion, Social Security and Migration, The average retirement pension will rise by 572 euros per yearwhile the system’s average pensions will increase by 498 euros annually. This increase will benefit the more than 9.4 million people who receive 10.4 million contributory pensions, in addition to the 715,000 pensioners corresponding to the State Passive Classes Regime, who will also see their benefits revalued with the same index.
The average pension of the Social Security system stood at 1,316.7 euros in November, 4.4% above the same month of the previous year. This average includes the amount of the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favor of relatives). The average retirement pension, received by the vast majority of pensioners (6.5 million people), reached 1,511.5 euros per month, after increasing by 4.3% on average compared to the same period in 2024. In November, in addition, the extraordinary payment is paid which, in the case of retirement, has an average amount of 1,492 euros.
If the CPI data is confirmed in a few days, the rate would break the trend of five consecutive months of increases in the general rate, except for August, when the rise in prices stabilized. Inflation marked its annual minimum in May at 2%. Regarding underlying inflation, which excludes fresh food and energy from its calculation because they are more volatile, the annual variation rate would increase by one tenth, to 2.6%.
