New year, new prices

Light, gas and water

The electric bill at the end of the month will not be the same for everyone. This is because those in the regulated market – which represents 5% of total consumption and 915,000 customers – will see value rise 0.2%, even though it is a 3.4% decrease compared to December. For those in the free market, the values ​​depend on the seller. EDP ​​will raise prices by an average of 2.4%, which will be an increase of around 90 cents per month, while the increase in Galp should be about 2.7 euros per month. Endesa guarantees that it will not alter the values. Cylinder gas prices are also expected to rise after hitting record prices later in the year. In the case of natural gas, the 0.3% increase that was made in October will be maintained and will remain in effect until September. As for water, if companies decide to follow the recommendations of the Water and Wastewater Regulatory Authority, an increase of 0.9% is expected in line with inflation rates. For its part, the waste management fee is expected to remain adjusted after rising to €22 this year.

food

For now, one thing seems for sure: Food will get more expensive this year, even though the agricultural year had reason to smile. It is well known that meat and fish will become more expensive – with increases around double digits – focusing mainly on veal and poultry, which should be more expressive. Pork is not included in these calculations. But that’s not all: olive oil is already showing an increase in price and bread will also see an increase in its value. And even the price of milk is expected to rise in 2022, according to the trend of the entire industry. There are a number of factors such as scarcity of raw materials, high fuel costs and, of course, inflation. From food to clothes, prices are also expected to rise.

Bank commissions

Novobanco, Santander Totta and BCP have already forecast increases in bank fees. For example, at novobanco, a demand deposit of more than 35 thousand euros will begin to pay as if it were less than this value, that is, 62.30 euros per month. Credit commissions also go up. For personal loans for furniture rental (excluding new vehicles), the commission for concluding the contract is raised to 400 euros in portfolio operations, while at the moment it is 314 euros for a period of up to three years and 380 euros for more than three years. The processing fee for these credits has increased to €36 per quarter (compared to €33). At Santander Totta, starting in February, the commission on a package account has increased to €5.30 per month and the commission on a credit card is increased to €2.25 per month (applicable under certain conditions). In the case of BCP, the value of the commission is maintained (if the credit is less than €250,000, it is €199.92 per annum, and if the credit is equal to or greater than €250,000, the commission is €60 per annum) however, the exemption from these commissions is only limited to Credits equal to or greater than €2 million. The update is sure to be followed by other banks.

fuel and tobacco

The price of fuel is a real rise and fall and varies every week depending on the prices of raw materials. And although prices may change from stage to stage – the price set on the network must also take into account the level of competition and supply and demand in each market – it is certain that in this past year, values ​​reached record values. Consumers will pay a new carbon tax of €0.54 on petrol and €0.58 on diesel. But drivers will have to prepare for other climbs. The carbon tax freeze ends in March, and the Portuguese Association of Oil Companies (Apetro) reports an increase of four to five cents a liter (excluding VAT), from that time on. The tax on petroleum and energy products (ISP) is also expected to increase by one cent per liter in the case of diesel and two cents per liter in the case of gasoline. As for tobacco, there is still no great certainty, since the proposed state budget for 2022 was rejected, but provided for an increase of 10 cents.

Communications

At this point, not all operators have announced what they intend to do with the list price next year, but some have already announced that they will raise prices. Currently, customers of Meo – a brand of Altice – have already been informed that the operator will increase the base price for the monthly fee by 50 cents from January 1. And if Meo is certain to raise prices, Nowo guarantees it won’t assuming “no updates planned”. NOS and Vodafone have not yet commented on the matter. However, it is necessary to remember that the 5G auction is finally over, and therefore, the operators now have many and high investments. DECO Proteste has already listed the first offers and has warned that operators are preparing to increase prices by five euros on some packages.

I

The price per square meter (m2) for the purpose of calculating the Municipal Property Tax (IMI) and attributing the Inherited Value Taxable (VPT) in 2022 will remain at €615, for most municipalities. But there are those who even chose to lower this value. The price to be charged consists of the average construction price, set annually on the proposal of the National Committee for the Evaluation of Urban Buildings, which remains at €492, plus 25% of the same amount set by the Government, corresponding to the value of m2 of farmland. It is determined taking into account, in particular, the direct and indirect costs incurred in the construction of the building, such as those related to materials, labor, equipment, management, energy, communications and other consumables, the IMI Act explains. It is used in the VPT calculation formula for urban buildings for housing, commerce, industry and services. Furthermore, IMI rates set by the municipalities in which the property is located are charged to the VPT, which range from 0.3% minimum to 0.45% maximum. But regardless of the IMI fees charged by councils, IMI will rise about 4% next year for new or rehabilitated properties.

Health and insurance

The bad news mainly applies to civil servants. In September, the new ADSE schedule came into effect, however, some prices were revised and these changes will only become effective at the beginning of 2022. For example, births are 35% more expensive. And in the health field, we can also see an increase in the prices of health insurance policies. But there’s good news, too: The government wants to stop drug prices from falling. The purpose of this mechanism is to “ensure the sustainability of the National Health Service and prevent the erosion of low-priced medicines”. In addition, VAT on gels and masks remains at a reduced rate in 2022 and the expenses are deducted from the IRS as health expenses, as was the case this year.

houses

It’s another case of inflation at work: house prices will continue their upward trend in the coming year and the increase in demand will not help either. APEMIP President Paulo Cayado had already indicated that there was “stability and the tendency is to maintain this growth path”. He adds that “prices are dictated by supply and demand, and this will indicate its development.” This problem is exacerbated by the high cost of construction, which “also dictates the final price per square meter.” Maintaining home premiums. This is because a very slight impact is expected due to also a slight rise in Euribor prices. And for those who rent, the destination is no different. Rents did not increase in 2021 but will rise in 2022 due to inflation: an increase of 0.43%.

cars

The chip crisis will continue to affect the auto sector in 2022. A shortage of these raw materials could drive up new car prices. The news is also not good for those who are thinking of buying a used car, which, in recent months, has been experiencing price hikes due to poor supply.
Also, be prepared to pay more when you go for the inspection. The new tariffs for technical inspections of road vehicles will increase by 0.9%, as they take into account the inflation rate (without housing) recorded last month by the National Statistics Institute. In general, in the case of a light car, you will have to pay an additional 31 cents from January 1: the fare will increase to 31.80 euros. The base price increases from €25.60 to €25.85, plus a VAT rate of 23%. If you have a heavy vehicle, the increase will be 47 cents: the base price increases from 38.31 to 38.69 euros. With VAT included, the new price is 47.59 euros.

Transportation and transit fees

Monthly passes for public transport in Lisbon will continue at 30 or 40 euros per month depending on the method, but transport tickets from Transportes Metropolitanos de Lisboa operators and services will have to increase by 0.57%. In addition to transportation, traffic fees will rise. BRISA announced that 28 of the 93 toll rates applicable to Class 1 will increase and justify the increase with the rate of inflation. The main long-distance routes with increments are the A2 between Lisbon and the Algarve, with an additional 0.35 euros, the A1 between Lisbon and Porto, with an additional 0.20 euros, and the A6, between Marateca and Kia, also with more than 0.20 euros. In addition, Via Verde also brings changes: there are mods that will no longer exist and an option for transit fees only will be created, which means that prices will also change. In this case, for those who only want the fees, you will pay an additional 49 cents per month (with the electronic invoice) or 5.75 euros per year (if the paper invoice is not dispensed with). For additional services, you will have to subscribe to Via Verde Mobilidade, which allows you to pay for parking but will cost from 1 April: 99 cents per month or 11.65 € per year (in the case of electronic billing).