In Spain the Ministry of Commerce is running a "Stable Price Campaign" in order to put a check on the country's high rate of inflation.
LV PAN FROM Madrid street TO hoardings advertising stable prices on various goods (4 shots)
SV & CU People looking into delicatessen window (2 shots)
CU Petrol pump and price indicator (2 shots)
SV & CU EXTERIOR Big store advertising stable prices
GV INTERIOR Store
CU PAN FROM Stable price sign TO toiletries on display
CU ZOOM OUT Stable price sign on perfume counter
LV EXTERIOR Madrid factory, protest signs, striking workers (3 shots)
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Background: In Spain the Ministry of Commerce is running a "Stable Price Campaign" in order to put a check on the country's high rate of inflation. Inflation in Spain has always been high, running at five to ten per cent since the end of the civil war, and in the past two years two years has reached a record level of 30 per cent.
SYNOPSIS: On the streets of Madrid there's no shortage of publicity for the campaign. Manufacturers, shops and services have been urged to freeze prices on more than half their products for at least five months of the year. If they do, they qualify to make use of the campaign's emblem in advertising. In turn the Spanish Government has been encouraging the nation to buy only goods displaying the emblem.
The oil price-rise was the main culprit in Spain's massive inflationary spurt in the early seventies. Other major factors have been large wage rises and increased costs of imports of raw materials. Observers say that progress towards restraining inflation and reducing the country's payments imbalance depends to a large extent on the Government's success in implementing the stabilisation programme.
So far it seems as though Spanish trade and industry is keen to work with the "Stable price campaign". All types of goods, bearing the stable price emblem, are being promoted in most major stores.
Apart from rising prices. unemployment has been the other major consequence of Spain's suffering economy. Official figures put the number out of work at more than 7 per cent, but observers say it is more likely that 10 per cent of the Spanish workforce is out of regular employment.