Spain’s consumer price inflation rose to 3.5% in July 2026, up from 3.2% in June and above the 3.4% market forecast, according to preliminary data. This is the highest rate since May 2024, fueled by rising costs for fuels, lubricants, and electricity, as renewed Middle East tensions push energy prices higher again. The core inflation rate, excluding unprocessed food and energy, also climbed to 3.0%, from 2.9% in June, matching May’s near two-year peak. Meanwhile, the EU-harmonized inflation rate reached 3.8%, surpassing the 3.7% expectation and remaining well above the European Central Bank’s 2.0% target. source: National Statistics Institute (INE)

Inflation Rate in Spain increased to 3.50 percent in July from 3.20 percent in June of 2026. Inflation Rate in Spain averaged 6.31 percent from 1955 until 2026, reaching an all time high of 28.43 percent in August of 1977 and a record low of -1.40 percent in July of 2009. This page provides the latest reported value for - Spain Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2026.

Inflation Rate in Spain increased to 3.50 percent in July from 3.20 percent in June of 2026. Inflation Rate in Spain is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Inflation Rate is projected to trend around 2.30 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-15 07:00 AM
Inflation Rate YoY Final
Jun 3.2% 3.2% 3.2% 3.2%
2026-07-30 07:00 AM
Inflation Rate YoY Prel
Jul 3.5% 3.2% 3.4% 3.5%
2026-08-13 07:00 AM
Inflation Rate YoY Final
Jul 3.2% 3.5% 3.5%



Components Last Previous Unit Reference
Core Inflation Rate YoY 3.00 2.90 percent Jul 2026
Food Inflation 1.90 2.20 percent Jun 2026

Related Last Previous Unit Reference
CPI 103.60 102.95 points Jun 2026
Core Consumer Prices 103.34 102.91 points Jun 2026
CPI Clothing and Footwear 103.19 104.06 points Jun 2026
CPI Education 101.86 101.86 points Jun 2026
CPI Food and Non-Alcoholic Beverages 102.53 102.44 points Jun 2026
CPI Housing Utilities 104.17 99.70 points Jun 2026
CPI Recreation and Culture 103.10 101.17 points Jun 2026
CPI Restaurants and Hotels 105.62 104.84 points Jun 2026
CPI Transportation 104.34 105.72 points Jun 2026
Harmonised Consumer Prices 104.00 104.08 points Jul 2026
Inflation Rate YoY 3.50 3.20 percent Jul 2026
Inflation Rate MoM 0.20 0.60 percent Jul 2026
Producer Prices 133.70 133.60 points Jun 2026
PPI YoY 7.00 10.50 percent Jun 2026


Spain Inflation Rate
In Spain, the most important categories in the Consumer Price Index are: Foods & Non-alcoholic Beverages (23% of the total weight), Housing, Water, Electricity, Gas & Other Fuels (14%), Restaurants & Hotels (13%) and Transport (13%). The index also includes: Recreation & Culture (6%), Miscellaneous Goods & Services (6%), Clothing & Footwear (6%), Furnishings, Household Equipment & Routine Maintenance (6%), Health (4%), Communications (4%), Alcoholic Beverages & Tobacco (3%), and Education (2%).
Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.20 28.43 -1.40 1955 - 2026 percent Monthly
2025=100

News Stream
Spain Inflation Rate Hits Two-Year High in July
Spain’s consumer price inflation rose to 3.5% in July 2026, up from 3.2% in June and above the 3.4% market forecast, according to preliminary data. This is the highest rate since May 2024, fueled by rising costs for fuels, lubricants, and electricity, as renewed Middle East tensions push energy prices higher again. The core inflation rate, excluding unprocessed food and energy, also climbed to 3.0%, from 2.9% in June, matching May’s near two-year peak. Meanwhile, the EU-harmonized inflation rate reached 3.8%, surpassing the 3.7% expectation and remaining well above the European Central Bank’s 2.0% target.
2026-07-30
Spain Inflation Rate Confirmed at 3.2% in June
Spain's annual inflation rate was unrevised at 3.2% in June 2026, unchanged from May and April. Higher electricity (6.0% vs -5.5% in May) and gas (0.8% vs -9.7%) prices were the main sources of upward pressure, while slower increases in motor fuel prices such as diesel (14.1% vs 23.9%) and petrol (1.3% vs 7.5%), partly offset their impact. Price growth also moderated for food & non-alcoholic beverages (1.9% vs 2.2%); alcoholic beverages & tobacco (3% vs 3.5%), recreation & culture (2% vs 2.6%) and insurance and financial services (3.2% vs 4.6%). Meanwhile, the core inflation rate eased to 2.9% from an upwardly revised 3.0% in May, matching the earlier estimates. The EU-harmonized annual rate stood at 3.6%, matching May's reading, in line with preliminary estimates. On a monthly basis, consumer prices rose by 0.6%, up from a 0.1% increase in May, and the harmonized index also went up 0.6%, after a 0.1% rise in the month before, both matching early estimates.
2026-07-15
Spain Inflation Rate Holds at 3.2% as Expected
Spain's annual inflation rate remained unchanged at 3.2% in June 2026, matching the readings in May and April and meeting market expectations, according to preliminary estimates. Upward pressure came from electricity and gas prices, which increased more sharply than they did in June 2025. In contrast, motor fuels and lubricants for personal vehicles helped moderate inflation, as their prices declined compared with the increase recorded a year earlier. Meanwhile, the core inflation rate eased to 2.9% from an upwardly revised 3.0% in May. On a monthly basis, the CPI rose 0.6%, following a 0.1% rise in May. Considering the EU-harmonised CPI, the annual inflation rate also steadied at 3.6% and the monthly rate also increased to 0.6% from 0.1%.
2026-06-29