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. source: National Statistics Institute (INE)

Inflation Rate in Spain increased to 4.30 percent in August from 3.60 percent in July of 2026. Inflation Rate in Spain averaged 6.31 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 September of 2026.

Inflation Rate in Spain increased to 4.30 percent in August from 3.60 percent in July 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 2.30 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-13 07:00 AM
Inflation Rate YoY Final
Jul 3.6% 3.2% 3.5% 3.5%
2026-08-28 07:00 AM
Inflation Rate YoY Prel
Aug 4.3% 3.6% 4.2% 4.3%
2026-09-15 07:00 AM
Inflation Rate YoY Final
Aug 3.6% 4.3% 4.3%



Components Last Previous Unit Reference
Core Inflation Rate YoY 2.90 3.00 percent Aug 2026
Food Inflation 1.60 1.90 percent Jul 2026

Related Last Previous Unit Reference
CPI 103.90 103.60 points Jul 2026
Core Consumer Prices 103.27 103.34 points Jul 2026
CPI Clothing and Footwear 92.65 103.19 points Jul 2026
CPI Education 101.87 101.86 points Jul 2026
CPI Food and Non-Alcoholic Beverages 101.84 102.53 points Jul 2026
CPI Housing Utilities 105.80 104.17 points Jul 2026
CPI Recreation and Culture 105.43 103.10 points Jul 2026
CPI Restaurants and Hotels 105.91 105.62 points Jul 2026
CPI Transportation 106.77 104.34 points Jul 2026
Harmonised Consumer Prices 104.71 104.06 points Aug 2026
Inflation Rate YoY 4.30 3.60 percent Aug 2026
Inflation Rate MoM 0.70 0.30 percent Aug 2026
Producer Prices 137.70 133.70 points Jul 2026
PPI YoY 9.20 7.00 percent Jul 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
4.30 3.60 28.43 -1.40 1955 - 2026 percent Monthly
2025=100

News Stream
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
Spain July Inflation Rate Revised Slightly Up to 3.6%
Spain's annual inflation rate was revised slightly higher to 3.6% in July 2026 from a preliminary estimate of 3.5% and June's reading of 3.2%. This marked the highest rate since May 2024, driven mainly by fuel prices, particularly diesel (15.7% vs 14.1%) and petrol (7.3% vs 1.3%), amid the partial closure of the Strait of Hormuz. Electricity prices also rose faster (8.4% vs 6%) due to strong consumer demand during the successive heatwaves. The core inflation rate, excluding unprocessed food and energy, also rose to 3.0% from 2.9% in June, in line with estimates and matching May’s near two-year peak. The EU-harmonized annual rate hit 3.9%, its highest since February 2023, up from 3.6% in June and above the preliminary estimate of 3.8%. On a monthly basis, consumer prices rose by 0.3%, up from the earlier estimate of 0.2%, but easing from the 0.6% increase recorded in June. The harmonized index was flat, compared to the earlier reading of a 0.1% decrease and after a 0.6% rise in June.
2026-08-13
Spain Inflation Rate Hits Two-Year High in July
Spain’s consumer price inflation rose to 3.5% in July 2026, up from 3.2% in June and above the 3.4% market forecast, according to preliminary data. This is the highest rate since May 2024, fueled by rising costs for fuels, lubricants, and electricity, as renewed Middle East tensions push energy prices higher again. The core inflation rate, excluding unprocessed food and energy, also climbed to 3.0%, from 2.9% in June, matching May’s near two-year peak. Meanwhile, the EU-harmonized inflation rate reached 3.8%, surpassing the 3.7% expectation and remaining well above the European Central Bank’s 2.0% target.
2026-07-30