MADRID, 4 Jul. (EUROPA PRESS) -

The CCOO has denounced this Tuesday that the data from the Observatory of Business Margins presented yesterday by the Government confirm that companies are increasing profits "at the expense of society and workers."

"Business margins, particularly those of companies with market power, have fueled the escalation of prices that we have suffered in recent years, to the detriment of wages and of society as a whole," the union stressed in a statement.

CCOO exposes that companies are achieving "historically high" margins in Spain, with an increase of 50% over 2019, which has driven the rise in prices and increased the part of added value that remains via margins, "to the detriment of the share of wages".

The organization led by Unai Sordo has celebrated the creation of this Observatory "as an exercise in transparency", and has recalled that the union proposed this measure at the beginning of this year to facilitate price containment and enable "a fairer distribution of effort collective".

In his opinion, this tool will serve to provide "reliable and objective" information to the negotiators of collective agreements. For the CCOO, this Observatory must have the participation of social agents and "continue to enrich itself, both in data and in analysis".