Spain Inflation Rate

Last Release

Jan 31, 2026

Actual

2.4

Units In

2.9

Frequency

Monthly

Next Release

Feb 27, 2026

Time to Release

26 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
28.43 Aug 1977	-1.37 Jul 2009	6.32 %	1955-2026	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 fell to 2.4% in January 2026 from 2.9% in December, slightly exceeding analysts’ estimates of 2.3%, preliminary estimates showed. This marked the third consecutive slowdown in price growth and the lowest inflation reading since June 2025. The moderation in inflation reflects a slower rise in electricity prices compared with January 2025, along with declines in fuel and lubricant costs for personal vehicles, which had increased in the same month a year earlier. The core inflation rate, which excludes volatile components like food and energy, stood at a one-year high of 2.6% for the third straight month. Considering the EU-harmonised, the CPI rose by 2.5% on the year, after a 3% increase in December, slightly above forecasts of 2.4%. Monthly, the CPI fell 0.4% after a 0.3% increase in December, versus expectations of a 0.3% decline. The EU-harmonised index fell 0.7%, following a 0.3% rise in December and slightly less than the anticipated 0.8% drop.