Spain’s annual inflation rate accelerated to 4.9% in September 2026, its highest level since February 2023, up from 4.3% in August and the 4.7% forecast, according to preliminary estimates. The acceleration was driven mainly by higher prices for fuel and lubricants for personal vehicles, which increased in September 2026 compared with a decline in the same month of 2025. It was also influenced by tour packages, whose prices fell less sharply than they did in September 2025. Compared to the previous month, the CPI rose 0.3%, following a 0.7% gain in August. Meanwhile, core inflation went up to 3.1% from 2.9%, reaching the highest level since March 2024. Considering the EU-harmonised CPI, annual inflation rate topped 5%, the highest reading since February 2023, compared to 4.6% in August. Compared to the previous month, the CI went up 0.6% after a 0.7% rise. source: National Statistics Institute (INE)

Inflation Rate in Spain increased to 4.90 percent in September from 4.30 percent in August of 2026. Inflation Rate in Spain averaged 6.30 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 October of 2026.

Inflation Rate in Spain increased to 4.90 percent in September from 4.30 percent in August of 2026. Inflation Rate in Spain is expected to be 4.90 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
2026-09-15 07:00 AM
Inflation Rate YoY Final
Aug 4.3% 3.6% 4.3% 4.3%
2026-09-29 07:00 AM
Inflation Rate YoY Prel
Sep 4.9% 4.3% 4.7% 4.7%
2026-10-14 07:00 AM
Inflation Rate YoY Final
Sep 4.3% 4.9% 4.9%



Components Last Previous Unit Reference
Core Inflation Rate YoY 3.10 2.90 percent Sep 2026
Food Inflation 2.30 1.60 percent Aug 2026

Related Last Previous Unit Reference
CPI 104.64 103.90 points Aug 2026
Core Consumer Prices 103.54 103.27 points Aug 2026
CPI Clothing and Footwear 91.74 92.65 points Aug 2026
CPI Education 101.89 101.87 points Aug 2026
CPI Food and Non-Alcoholic Beverages 101.71 101.84 points Aug 2026
CPI Health 102.30 102.17 points Aug 2026
CPI Housing Utilities 106.49 105.80 points Aug 2026
CPI Recreation and Culture 106.20 105.43 points Aug 2026
CPI Restaurants and Hotels 106.13 105.91 points Aug 2026
CPI Transportation 110.33 106.77 points Aug 2026
Harmonised Consumer Prices 105.42 104.74 points Sep 2026
Harmonised Inflation Rate MoM 0.60 0.70 percent Sep 2026
Harmonised Inflation Rate YoY 5.00 4.60 percent Sep 2026
Inflation Rate YoY 4.90 4.30 percent Sep 2026
Inflation Rate MoM 0.30 0.70 percent Sep 2026
Producer Prices 141.81 137.84 points Aug 2026
PPI YoY 13.20 9.40 percent Aug 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
4.90 4.30 28.43 -1.40 1955 - 2026 percent Monthly
2025=100

News Stream
Spain Inflation Rate Above Forecasts
Spain’s annual inflation rate accelerated to 4.9% in September 2026, its highest level since February 2023, up from 4.3% in August and the 4.7% forecast, according to preliminary estimates. The acceleration was driven mainly by higher prices for fuel and lubricants for personal vehicles, which increased in September 2026 compared with a decline in the same month of 2025. It was also influenced by tour packages, whose prices fell less sharply than they did in September 2025. Compared to the previous month, the CPI rose 0.3%, following a 0.7% gain in August. Meanwhile, core inflation went up to 3.1% from 2.9%, reaching the highest level since March 2024. Considering the EU-harmonised CPI, annual inflation rate topped 5%, the highest reading since February 2023, compared to 4.6% in August. Compared to the previous month, the CI went up 0.6% after a 0.7% rise.
2026-09-29
Spain August Inflation Confirmed at 4.3%
Spain’s annual inflation rate rose to 4.3% in August 2026 from 3.6% in July, confirming preliminary estimates. It marked the highest inflation rate since February 2023, driven by rising transport costs (9.5% vs 6.2% in July), particularly diesel (30.3% vs 15.7%) and petrol (16.9% vs 7.3%), amid supply disruptions linked to the ongoing conflict in the Middle East. Housing and utilities (6.4% vs 5.7%) and food and non-alcoholic beverages (2.3% vs 1.6%) also recorded faster price increases. On a monthly basis, the CPI rose by 0.7%, following a 0.3% increase in the previous month. The EU-harmonized inflation rate was revised slightly higher to 4.6% from an initial estimate of 4.5%, up from 3.9% in July. This was also the highest level since February 2023 and more than double the European Central Bank’s 2% medium-term target. Meanwhile, core inflation, which excludes volatile components such as unprocessed food and energy, edged down to 2.9% in August from 3.0% last month.
2026-09-15
Spain Inflation Accelerates to 4.3% in August
Spain’s inflation rate accelerated to 4.3% year on year in August 2026, up from 3.6% in July and slightly above market expectations of 4.2%, according to a preliminary estimate. It was the highest inflation rate since February 2023, driven largely by rising energy prices following an escalation in US-Iran tensions that pushed crude oil prices higher. The EU-harmonized inflation rate also climbed to 4.5%, its highest level since early 2023 and more than double the European Central Bank’s 2% medium-term target. Meanwhile, core inflation, which excludes volatile components such as unprocessed food and energy, edged down to 2.9% in August.
2026-08-28