Consumer Price Index in Spain

Instituto Nacional de Estadistica (INE) · Monthly · Importance 76

IMF forecast (WEO): 2026: 3.0% 2027: 2.3% 2028: 2.5% 2029: 2.0% 2030: 2.0% 2031: 2.0%

0.3% (Jul-26) MOM · % · Mensual · CSV

Period	%
Jul 2026	0.3%
Jun 2026	0.6%
May 2026	0.1%
Apr 2026	0.4%
Mar 2026	1.2%
Feb 2026	0.4%
Jan 2026	-0.4%
Dec 2025	0.3%
Nov 2025	0.2%
Oct 2025	0.7%
Sep 2025	-0.3%
Aug 2025	0.0%
Jul 2025	-0.1%
Jun 2025	0.7%
May 2025	0.1%
Apr 2025	0.6%
Mar 2025	0.1%
Feb 2025	0.4%
Jan 2025	0.2%
Dec 2024	0.5%
Nov 2024	0.2%
Oct 2024	0.6%
Sep 2024	-0.6%
Aug 2024	0.0%
Jul 2024	-0.5%
Jun 2024	0.4%
May 2024	0.3%
Apr 2024	0.7%
Mar 2024	0.8%
Feb 2024	0.4%
Jan 2024	0.1%
Dec 2023	0.0%
Nov 2023	-0.3%
Oct 2023	0.3%
Sep 2023	0.2%
Aug 2023	0.5%
Jul 2023	0.2%
Jun 2023	0.6%
May 2023	0.0%
Apr 2023	0.6%
Mar 2023	0.4%
Feb 2023	0.9%
Jan 2023	-0.2%
Dec 2022	0.2%
Nov 2022	-0.1%
Oct 2022	0.3%
Sep 2022	-0.7%
Aug 2022	0.3%
Jul 2022	-0.3%
Jun 2022	1.9%
May 2022	0.8%
Apr 2022	-0.2%
Mar 2022	3.0%
Feb 2022	0.8%
Jan 2022	-0.4%
Dec 2021	1.2%
Nov 2021	0.3%
Oct 2021	1.8%
Sep 2021	0.8%
Aug 2021	0.5%

Period	%
Jul 2026	3.6%
Jun 2026	3.2%
May 2026	3.2%
Apr 2026	3.2%
Mar 2026	3.4%
Feb 2026	2.3%
Jan 2026	2.3%
Dec 2025	2.9%
Nov 2025	3.0%
Oct 2025	3.1%
Sep 2025	3.0%
Aug 2025	2.7%
Jul 2025	2.7%
Jun 2025	2.3%
May 2025	2.0%
Apr 2025	2.2%
Mar 2025	2.3%
Feb 2025	3.0%
Jan 2025	2.9%
Dec 2024	2.8%
Nov 2024	2.4%
Oct 2024	1.8%
Sep 2024	1.5%
Aug 2024	2.3%
Jul 2024	2.8%
Jun 2024	3.4%
May 2024	3.6%
Apr 2024	3.3%
Mar 2024	3.2%
Feb 2024	2.8%
Jan 2024	3.4%
Dec 2023	3.1%
Nov 2023	3.2%
Oct 2023	3.5%
Sep 2023	3.5%
Aug 2023	2.6%
Jul 2023	2.3%
Jun 2023	1.9%
May 2023	3.2%
Apr 2023	4.1%
Mar 2023	3.3%
Feb 2023	6.0%
Jan 2023	5.9%
Dec 2022	5.7%
Nov 2022	6.8%
Oct 2022	7.3%
Sep 2022	8.9%
Aug 2022	10.5%
Jul 2022	10.8%
Jun 2022	10.2%
May 2022	8.7%
Apr 2022	8.3%
Mar 2022	9.8%
Feb 2022	7.6%
Jan 2022	6.1%
Dec 2021	6.5%
Nov 2021	5.5%
Oct 2021	5.4%
Sep 2021	4.0%
Aug 2021	3.3%

Period	%
Jul 2026	3.9%
Jun 2026	3.6%
May 2026	3.6%
Apr 2026	3.5%
Mar 2026	3.4%
Feb 2026	2.5%
Jan 2026	2.4%
Dec 2025	3.0%
Nov 2025	3.2%
Oct 2025	3.2%
Sep 2025	3.0%
Aug 2025	2.7%
Jul 2025	2.7%
Jun 2025	2.3%
May 2025	2.0%
Apr 2025	2.2%
Mar 2025	2.2%
Feb 2025	2.9%
Jan 2025	2.9%
Dec 2024	2.8%
Nov 2024	2.4%
Oct 2024	1.8%
Sep 2024	1.7%
Aug 2024	2.4%
Jul 2024	2.9%
Jun 2024	3.6%
May 2024	3.8%
Apr 2024	3.4%
Mar 2024	3.2%
Feb 2024	2.9%
Jan 2024	3.5%
Dec 2023	3.3%
Nov 2023	3.3%
Oct 2023	3.5%
Sep 2023	3.3%
Aug 2023	2.4%
Jul 2023	2.1%
Jun 2023	1.6%
May 2023	2.9%
Apr 2023	3.8%
Mar 2023	3.1%
Feb 2023	6.0%
Jan 2023	5.9%
Dec 2022	5.5%
Nov 2022	6.7%
Oct 2022	7.3%
Sep 2022	9.0%
Aug 2022	10.5%
Jul 2022	10.7%
Jun 2022	10.0%
May 2022	8.5%
Apr 2022	8.3%
Mar 2022	9.8%
Feb 2022	7.6%
Jan 2022	6.1%
Dec 2021	6.6%
Nov 2021	5.5%
Oct 2021	5.4%
Sep 2021	4.0%
Aug 2021	3.3%

Period	%
Jul 2026	3.0%
Jun 2026	2.9%
May 2026	3.0%
Apr 2026	2.8%
Mar 2026	2.9%
Feb 2026	2.7%
Jan 2026	2.6%
Dec 2025	2.6%
Nov 2025	2.6%
Oct 2025	2.5%
Sep 2025	2.4%
Aug 2025	2.4%
Jul 2025	2.3%
Jun 2025	2.2%
May 2025	2.2%
Apr 2025	2.4%
Mar 2025	2.0%
Feb 2025	2.2%
Jan 2025	2.4%
Dec 2024	2.6%
Nov 2024	2.4%
Oct 2024	2.5%
Sep 2024	2.4%
Aug 2024	2.7%
Jul 2024	2.8%
Jun 2024	3.0%
May 2024	3.0%
Apr 2024	2.9%
Mar 2024	3.3%
Feb 2024	3.5%
Jan 2024	3.6%
Dec 2023	3.8%
Nov 2023	4.5%
Oct 2023	5.2%
Sep 2023	5.8%
Aug 2023	6.1%
Jul 2023	6.2%
Jun 2023	5.9%
May 2023	6.1%
Apr 2023	6.6%
Mar 2023	7.5%
Feb 2023	7.6%
Jan 2023	7.5%
Dec 2022	7.0%
Nov 2022	6.3%
Oct 2022	6.2%
Sep 2022	6.2%
Aug 2022	6.4%
Jul 2022	6.1%
Jun 2022	5.5%
May 2022	4.9%
Apr 2022	4.4%
Mar 2022	3.4%
Feb 2022	3.0%
Jan 2022	2.4%
Dec 2021	2.1%
Nov 2021	1.7%
Oct 2021	1.4%
Sep 2021	1.0%
Aug 2021	0.7%

About this indicator

Source	National Statistics Institute (INE)
Frequency	Monthly
Release	Un mes más tarde al período al que se refiere (08:00 GMT)
What it is	Measures the change in the price of a representative basket of goods and services bought by Spanish households. It is the main gauge of inflation and is used to update pensions, wages and contracts.
How it's calculated	Each month the INE collects hundreds of thousands of prices from outlets across Spain, weighted by each item's share of household spending (household budget survey). It is published as an index (2021=100) with its year-on-year and month-on-month changes; the base year and weights are updated periodically.
Market implications	The most closely watched inflation reading: it shapes ECB monetary policy, the path of interest rates and households' purchasing power. A hotter-than-expected print tends to push rates and the euro higher.
Limitations	It reflects only the items in the basket, with weights that lag changes in consumption. Energy and fresh food can distort the headline, which is why core inflation is watched alongside it.