Spain’s annual inflation rate jumped to 3.3% in March 2026, its highest since June 2024, compared to 2.3% in February and expectations of 3.7%, according to preliminary data. The increase was largely driven by higher prices for fuels and lubricants for personal vehicles, reflecting the impact of the war with Iran. Electricity prices also contributed, as their decline was smaller than a year earlier, while heating oil prices rose after falling in March 2025. Core inflation, which excludes food and energy, stood at 2.7%. On a harmonised EU basis, annual inflation rose to 3.3% from 2.5%, below forecasts of 3.9%. On a monthly basis, consumer prices increased 1% after a 0.4% rise in February, missing expectations of a 1.2% gain, while the harmonised index rose 1.5% following a 0.4% increase. source: National Statistics Institute (INE)

Inflation Rate in Spain increased to 3.30 percent in March from 2.30 percent in February of 2026. Inflation Rate in Spain averaged 6.32 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 March of 2026.

Inflation Rate in Spain increased to 3.30 percent in March from 2.30 percent in February of 2026. Inflation Rate in Spain is expected to be 3.50 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 2.20 percent in 2027 and 2.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-13 08:00 AM
Inflation Rate YoY Final
Feb 2.3% 2.3% 2.3% 2.3%
2026-03-27 08:00 AM
Inflation Rate YoY Prel
Mar 3.3% 2.3% 3.7% 3.5%
2026-04-14 07:00 AM
Inflation Rate YoY Final
Mar 2.3% 3.3% 3.3%

Components Last Previous Unit Reference
Core Inflation Rate YoY 2.70 2.70 percent Mar 2026
Food Inflation 3.20 3.00 percent Feb 2026

Related Last Previous Unit Reference
CPI 101.26 100.84 points Feb 2026
Core Consumer Prices 101.10 100.71 points Feb 2026
CPI Clothing and Footwear 92.28 93.11 points Feb 2026
CPI Education 101.78 101.76 points Feb 2026
CPI Food and Non-Alcoholic Beverages 102.38 101.80 points Feb 2026
CPI Housing Utilities 102.37 102.71 points Feb 2026
CPI Recreation and Culture 98.88 98.79 points Feb 2026
CPI Restaurants and Hotels 102.07 101.12 points Feb 2026
CPI Transportation 100.42 99.63 points Feb 2026
Harmonised Consumer Prices 100.96 100.53 points Feb 2026
Inflation Rate YoY 3.30 2.30 percent Mar 2026
Inflation Rate MoM 1.00 0.40 percent Mar 2026
Producer Prices 122.00 125.90 points Feb 2026
PPI YoY -7.00 -2.80 percent Feb 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
3.30 2.30 28.43 -1.40 1955 - 2026 percent Monthly
2025=100

News Stream
Spain Inflation Rate Surges to Nearly 2-Year High
Spain’s annual inflation rate jumped to 3.3% in March 2026, its highest since June 2024, compared to 2.3% in February and expectations of 3.7%, according to preliminary data. The increase was largely driven by higher prices for fuels and lubricants for personal vehicles, reflecting the impact of the war with Iran. Electricity prices also contributed, as their decline was smaller than a year earlier, while heating oil prices rose after falling in March 2025. Core inflation, which excludes food and energy, stood at 2.7%. On a harmonised EU basis, annual inflation rose to 3.3% from 2.5%, below forecasts of 3.9%. On a monthly basis, consumer prices increased 1% after a 0.4% rise in February, missing expectations of a 1.2% gain, while the harmonised index rose 1.5% following a 0.4% increase.
2026-03-27
Spain Inflation Rate Confirmed Steady at 2.3% in February
Spain’s annual inflation rate stood at a seven-month low of 2.3% in February 2026, matching the preliminary estimate and unchanged from January. Slower price growth in housing and utilities (1.9% vs 2.7% in January), on account of electricity prices (0.3% vs 3.7%), helped offset upward pressure from food and non-alcoholic beverages (3.2% vs 3%), restaurants and hotels (4.8% vs 4.5%), and transportation (0.1% vs -0.1%). The core inflation rate, which excludes volatile components like food and energy, inched up to 2.7% in February, the highest since August 2024, from 2.6% previously. Considering the EU-harmonised, the CPI rose by 2.5% on the year, after a 2.4% increase in January, in line with the earlier estimate. Monthly, the CPI rose by 0.4% after a 0.4% decrease in January; and the EU-harmonised index went up by 0.4%, following a previous 0.8% decline, both matching preliminary estimates.
2026-03-13
Spain Inflation Rate Stays at 2.3% in February, Tops Forecasts
Spain’s annual inflation rate stood at 2.3% in February 2026, unchanged from January and marking the lowest level in seven months, slightly above analysts' estimates of 2.2%. The ongoing stability in price growth was mainly supported by lower electricity prices compared with February 2025, partly offset by stronger increases in fuels and lubricants for personal vehicles, restaurants and accommodation services, and food and non-alcoholic beverages. The core inflation rate, which excludes volatile components like food and energy, inched up to 2.7% in February, the highest since August 2024, from 2.6% previously. Considering the EU-harmonised, the CPI rose by 2.5% on the year, after a 2.4% increase in January, surpassing forecasts of 2.3%. Monthly, the CPI rose by 0.4% after a 0.4% decrease in January. The EU-harmonised index went up by 0.4%, following a 0.8% decline in January and sightly above estimates of a 0.3% rise.
2026-02-27