Spain’s annual inflation rate eased to 3.2% in April 2026 from 3.4% in March which was the highest level since June 2024, coming in below forecasts of 3.4%, according to preliminary data. The slowdown was driven by a sharper decline in electricity prices, partly reflecting government measures to cushion the impact of the Iran war, alongside a more moderate increase in package holiday prices compared with April 2025. On the other hand, fuel and lubricant prices for personal vehicles continued to rise amid the conflict in the Middle East. Core inflation, which excludes volatile items such as food and energy, edged down to 2.8% from 2.9%. By contrast, the EU-harmonised annual rate accelerated to 3.5%, a new high since June 2024, up from 3.4% in March and in line with expectations. On a monthly basis, consumer prices rose 0.4%, slowing from 1.2% in March and below forecasts of 0.6%, while the harmonised index increased 0.7%, slightly above expectations of 0.6%, after a 1.7% rise in March. source: National Statistics Institute (INE)

Inflation Rate in Spain decreased to 3.20 percent in April from 3.40 percent in March of 2026. Inflation Rate in Spain averaged 6.32 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 May of 2026.

Inflation Rate in Spain decreased to 3.20 percent in April from 3.40 percent in March of 2026. Inflation Rate in Spain is expected to be 4.00 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 2.80 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-14 07:00 AM
Inflation Rate YoY Final
Mar 3.4% 2.3% 3.3% 3.3%
2026-04-29 07:00 AM
Inflation Rate YoY Prel
Apr 3.2% 3.4% 3.4% 3.3%
2026-05-14 07:00 AM
Inflation Rate YoY Final
Apr 3.4% 3.2% 3.2%



Components Last Previous Unit Reference
Core Inflation Rate YoY 2.80 2.90 percent Apr 2026
Food Inflation 2.70 3.20 percent Mar 2026

Related Last Previous Unit Reference
CPI 102.44 101.26 points Mar 2026
Core Consumer Prices 101.81 101.10 points Mar 2026
CPI Clothing and Footwear 98.28 92.28 points Mar 2026
CPI Education 101.83 101.78 points Mar 2026
CPI Food and Non-Alcoholic Beverages 102.16 102.38 points Mar 2026
CPI Housing Utilities 102.51 102.37 points Mar 2026
CPI Recreation and Culture 100.12 98.88 points Mar 2026
CPI Restaurants and Hotels 102.94 102.07 points Mar 2026
CPI Transportation 104.92 100.42 points Mar 2026
Harmonised Consumer Prices 103.32 102.64 points Apr 2026
Inflation Rate YoY 3.20 3.40 percent Apr 2026
Inflation Rate MoM 0.40 1.20 percent Apr 2026
Producer Prices 130.00 122.10 points Mar 2026
PPI YoY 3.40 -6.90 percent Mar 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
3.20 3.40 28.43 -1.40 1955 - 2026 percent Monthly
2025=100

News Stream
Spain Inflation Rate Unexpectedly Slows to 3.2%
Spain’s annual inflation rate eased to 3.2% in April 2026 from 3.4% in March which was the highest level since June 2024, coming in below forecasts of 3.4%, according to preliminary data. The slowdown was driven by a sharper decline in electricity prices, partly reflecting government measures to cushion the impact of the Iran war, alongside a more moderate increase in package holiday prices compared with April 2025. On the other hand, fuel and lubricant prices for personal vehicles continued to rise amid the conflict in the Middle East. Core inflation, which excludes volatile items such as food and energy, edged down to 2.8% from 2.9%. By contrast, the EU-harmonised annual rate accelerated to 3.5%, a new high since June 2024, up from 3.4% in March and in line with expectations. On a monthly basis, consumer prices rose 0.4%, slowing from 1.2% in March and below forecasts of 0.6%, while the harmonised index increased 0.7%, slightly above expectations of 0.6%, after a 1.7% rise in March.
2026-04-29
Spain March Inflation Rate Revised Slightly Up to 3.4%
Spain’s annual inflation rate was revised to 3.4% in March 2026, from an initial estimate of 3.3%, marking a sharp increase from 2.3% in February and the highest level since June 2024. The acceleration was largely by higher energy prices linked to the Iran conflict, lifting transport costs to 5.3% (vs 0.1%). Fuel prices rebounded sharply, with diesel rising 17.9% (vs -4.7%) and petrol 4.8% (vs -6.1%). Additional pressure came from housing and utilities (3.7% vs 1.9%), particularly electricity and liquid fuels, as well as clothing and footwear, due to the start of the spring-summer season. Meanwhile, the core inflation rate was at 2.9%, slightly higher than the preliminary estimate of 2.7%, marking the highest reading since June 2024. On a monthly basis, the CPI rose by 1.2%, exceeding the initial estimate of 1%, marking the steepest increase since June 2022. Meanwhile, the EU-harmonized CPI rose by 3.4% yoy; and increased by 1.7% over a month, both surpassing the earlier estimates.
2026-04-14
Spain Inflation Rate Surges to Nearly 2-Year High
Spain’s annual inflation rate jumped to 3.3% in March 2026, its highest since June 2024, compared to 2.3% in February and expectations of 3.7%, according to preliminary data. The increase was largely driven by higher prices for fuels and lubricants for personal vehicles, reflecting the impact of the war with Iran. Electricity prices also contributed, as their decline was smaller than a year earlier, while heating oil prices rose after falling in March 2025. Core inflation, which excludes food and energy, stood at 2.7%. On a harmonised EU basis, annual inflation rose to 3.3% from 2.5%, below forecasts of 3.9%. On a monthly basis, consumer prices increased 1% after a 0.4% rise in February, missing expectations of a 1.2% gain, while the harmonised index rose 1.5% following a 0.4% increase.
2026-03-27