Yzabelle Bostyn
THE cost of raising a child in Spain has surged 13% since 2022, a new report has shown.
Fresh research by Save the Children has shown the cost of raising a child in Spain has risen by 13% in the last two years.
‘The Cost of Child Rearing in Spain 2024’ calculated that today, a child costs on average €758 per month, compared to €672 in 2022.
In 2018, the cost per month per child was €587, showing a 29% rise.
Published this Tuesday, the report showed rising childcare costs were largely down to inflation, with household supplies rising by 63% and food costs by 26%.
However, they claim there is a ‘specific child rearing inflation’ which exceeds normal inflation by between 37-51%.
“Families with children have to invest over half of their earnings in child rearing costs and the risk of falling below poverty line rises by 70% for those who take care of minors,” said the report.
According to Save the Children, 43% of Spanish minors live in households with ‘serious difficulty’ when unexpected costs arise. This is 4% higher than in 2022.
“Childrearing is a considerable economic burden for families, especially in adolescence,” the report continued.
Although the overall poverty levels have remained stable in the last year, for children and young people it has risen 1.1% since 2023 to 28.9%.
Single parent households are ‘particularly worrying’, with 530,000 homes at risk of poverty.
The report also highlighted that household bills have risen 63% since 2022 and 153% since 2018.
This additional cost is around €92 a month and with other living costs, this rises to €135 per child.
The amount of money it costs to raise a child also varies significantly based on the child’s age.
Between 0-3 years old, the average monthly cost is €609 while between 4-6 it rises to €692 and between 7-12 to €812.
From 13-17, the average cost lowers slightly to €807.
The NGO says their research shows the need to improve public policy such as implementing a universal benefit for each child.
