Spain Inflation Rate Slows Less than Anticipated

2025-11-28 08:14 By Luisa Carvalho 1 min. read

The annual inflation rate in Spain eased to 3% in November 2025, from 3.1% in October, though above market estimates of 2.9%, according to preliminary estimates.

The slowdown was mainly attributed to lower electricity prices, compared with the increase seen in November 2024.

At the same time, prices for recreation and culture fell more slowly than a year ago, and prices for food and non-alcoholic beverages increased after last year’s drop, both exerting upward pressure.

Meanwhile, the core inflation rate ,which excludes volatile components like food and energy, rose for the second month to a near one-year high of 2.6% in November, up from October's 2.5%.

Considering the EU-harmonised, the CPI rose 3.1% on the year, after a 3.2% increase in October and slightly above market forecasts of 2.9%.

Monthly, the CPI rose by 0.2%, after a 0.7% advance in October; and the EU harmonized was flat, compared to a 0.5% rise in October and analysts' estimates of a 0.2% fall.



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