Harmonised Consumer Prices in Spain increased to 128.28 points in December from 127.87 points in November of 2025. Harmonised Consumer Prices in Spain averaged 88.86 points from 1992 until 2025, reaching an all time high of 128.28 points in December of 2025 and a record low of 53.60 points in January of 1992. source: National Statistics Institute (INE)

Harmonised Consumer Prices in Spain is expected to be 128.93 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Harmonised Consumer Prices is projected to trend around 133.59 points in 2027 and 136.26 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
CPI 119.94 119.53 points Dec 2025
Core Consumer Prices 118.98 118.50 points Dec 2025
Core Inflation Rate YoY 2.60 2.60 percent Jan 2026
CPI Housing Utilities 115.10 114.44 points Dec 2025
CPI Transportation 113.88 114.02 points Dec 2025
Food Inflation 3.00 2.80 percent Dec 2025
Harmonised Consumer Prices 128.28 127.87 points Dec 2025
Inflation Rate YoY 2.40 2.90 percent Jan 2026
Inflation Rate MoM -0.40 0.30 percent Jan 2026
Producer Prices 125.20 124.80 points Dec 2025
PPI YoY -3.00 -2.50 percent Dec 2025


Spain Harmonised Consumer Prices
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.
Actual Previous Highest Lowest Dates Unit Frequency
128.28 127.87 128.28 53.60 1992 - 2025 points Monthly
2015=100, NSA