Family deposits grow 5.8% in July and are close to one billion euros

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Spanish households had almost one trillion euros saved in bank deposits at the end of July, 5.8% more than a year earlier, with which the figure once again marks a historical record , according to data updated today by the Bank of Spain.

The 997,400 million that Spaniards have in deposits imply an increase of 0.25% over the previous month and 5.8 over July 2021, before the war began in Ukraine and inflation began its escalation throughout Europe.

The figures do not reflect, for the moment, that the burden posed by the increase in the cost of living (inflation is at rates above 10% in the last two months) has made a dent in the savings of the Spanish.

In this way, families continue to try to protect their economy from the uncertainty arising from the current macroeconomic situation, with skyrocketing electricity and energy prices, also alerted by cuts in Russian gas supplies to Europe.

At the time, companies resident in Spain kept 312,000 million euros in bank deposits at the end of July, a balance that was 1.8% lower than that registered until June and almost 6% higher than a year ago.

The set of resident sectors (including public administrations and investment funds, companies, insurance and pension funds, in addition to households) had deposits of 1.69 trillion euros at the end of July, 0.69% less than a month before and 4.5% more than the same month of the previous year.

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