Spain Inflation Rate

Last Release

Oct 31, 2024

Actual

1.8

Units In

1.5

Frequency

Monthly

Next Release

Nov 28, 2024

Time to Release

27 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
28.43 Aug 1977	-1.37 Jul 2009	6.39 %	1955-2024	National Statistics Institute (INE)

In Spain, the most important categories in the consumer price index are food and non-alcoholic beverages (20 percent of the total weight), transport (15 percent), housing and utilities (13 percent) and hotels, cafés and restaurants (12 percent). The index also includes: Recreation and culture (9 percent); miscellaneous goods and services (7 percent); and clothing and footwear (7 percent). Furnishings, household equipment and routine maintenance of the house; health; communications; alcoholic beverages and tobacco; and education account for the remaining 18 percent of total weight.

Latest Updates

Spain's annual inflation rate rose to 1.8% in October 2024, up from a 3-1/2-year low of 1.5% in September, matching market expectations, preliminary estimates showed. This was primarily driven by higher fuel prices, and, to a lesser extent, by rising electricity and gas prices, which saw a decline in October 2023. The core rate, excluding volatile items like food and energy, ticked higher to 2.5% in October 2024, up from an over 2-1/2-year low of 2.4% in the prior month. On a monthly basis, consumer prices increased by 0.6%, slightly above forecasts of a 0.5% rise. Meanwhile, the EU-harmonized CPI rose by 1.8% year-on-year and increased by 0.4% from September, both in line with market estimates.