Spain's consumer prices declined 0.8 percent from a year earlier in October 2020, the most since a 0.9 percent drop seen in May, as domestic demand remained subdued amid the coronavirus crisis. Cost was down for transport (-5.1 percent vs -5.0 percent in September), housing and utilities (-3.6 percent vs -1.4 percent), and recreation and culture (-0.7 percent vs -1.1 percent). At the same time, upward pressure came from food and non-alcoholic beverages (2.3 percent vs 2.4 percent), restaurants and hotels (0.3 percent, the same as in September), clothing and footwear (1.0 percent, the same as in September) and miscellaneous goods and services (1.4 percent vs 1.5 percent). On a monthly basis, consumer prices increased 0.5 percent in October. source: National Statistics Institute (INE)

Inflation Rate in Spain averaged 6.52 percent from 1955 until 2020, reaching an all time high of 28.43 percent in August of 1977 and a record low of -1.37 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 November of 2020.

Inflation Rate in Spain is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Spain to stand at 1.10 in 12 months time. In the long-term, the Spain Inflation Rate is projected to trend around 1.40 percent in 2021 and 1.50 percent in 2022, according to our econometric models.

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Spain Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.80 -0.40 28.43 -1.37 1955 - 2020 percent Monthly
2011=100


Calendar GMT Actual Previous Consensus TEForecast
2020-09-29 07:00 AM Inflation Rate YoY Prel Sep -0.4% -0.5% -0.5% -0.2%
2020-10-14 07:00 AM Inflation Rate YoY Final Sep -0.4% -0.5% -0.4% -0.4%
2020-10-29 08:00 AM Inflation Rate YoY Prel Oct -0.9% -0.4% -0.6% -0.5%
2020-11-13 08:00 AM Inflation Rate YoY Final Oct -0.8% -0.4% -0.9% -0.9%
2020-11-30 08:00 AM Inflation Rate YoY Prel Nov -0.8%
2020-12-11 08:00 AM Inflation Rate YoY Final Nov -0.8%
2020-12-30 08:00 AM Inflation Rate YoY Prel Dec -0.3%
2021-01-15 08:00 AM Inflation Rate YoY Final Dec


News Stream
Spain Consumer Price Deflation Deepens in October
Spain's consumer prices declined 0.8 percent from a year earlier in October 2020, the most since a 0.9 percent drop seen in May, as domestic demand remained subdued amid the coronavirus crisis. Cost was down for transport (-5.1 percent vs -5.0 percent in September), housing and utilities (-3.6 percent vs -1.4 percent), and recreation and culture (-0.7 percent vs -1.1 percent). At the same time, upward pressure came from food and non-alcoholic beverages (2.3 percent vs 2.4 percent), restaurants and hotels (0.3 percent, the same as in September), clothing and footwear (1.0 percent, the same as in September) and miscellaneous goods and services (1.4 percent vs 1.5 percent). On a monthly basis, consumer prices increased 0.5 percent in October.
2020-11-13
Spain CPI Drops the Most in 5 Months
Consumer prices in Spain are expected to decrease 0.9 percent year-on-year in October of 2020, following a 0.4 percent fall in the previous month and compared to market expectations of a 0.6 percent drop, a preliminary estimate showed. It was the steepest fall in consumer prices since May. The harmonised index of consumer prices is seen falling 1 percent over a year ago, after a 0.6 percent decline in September. On a monthly basis, consumer prices are likely to advance 0.5 percent, accelerating from a 0.2 percent gain; and the harmonised index should increase 0.3 percent, following a 0.4 percent rise. The country slipped into deflation in April when the coronavirus crisis started to hit more the economy.
2020-10-29
Spain Consumer Prices Fall at a Softer Pace in September
Consumer prices in Spain dropped 0.4 percent year-on-year in September 2020, following a 0.5 percent fall in August and matching a preliminary estimate. Prices declined less for housing & utilities (-1.4% vs -2.7% in August); and recreation & culture (-1.1% vs -2.1%). Also, cost of food & non-alcoholic beverages rose further (2.4% vs 2.2%). Meanwhile, prices dropped at a faster pace for transportation (-5% vs -4.4%) and communications (-1.4% vs -1.2%). In addition, cost of health slowed (0.4% vs 0.5%) while inflation was steady for alcoholic beverages & tobacco (at 0.5%). The harmonised index of consumer prices went down 0.6% over a year earlier, the same as in the prior month, in line with a preliminary estimate. On a monthly basis, consumer prices increased 0.2% and the harmonised index advanced 0.4%, both matching a preliminary estimate. The prices of the products included in the COVID-19 special goods group were unchanged in September, while those of services rose 0.6%.
2020-10-14
Spain CPI Falls Less than Expected in September
Consumer prices in Spain are expected to drop 0.4 percent year-on-year in September of 2020, following a 0.5 percent decrease in August and compared with market expectations of a 0.5 percent fall, a preliminary estimate showed. The harmonised index of consumer prices is seen dropping 0.6 percent over a year ago, the same as in the previous month. On a monthly basis, consumer prices are expected to increase 0.2 percent, while the harmonised index is expected to edge up 0.1 percent. The country slipped into deflation in April when the coronavirus crisis started to hit more the economy.
2020-09-29

Spain Inflation Rate
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.