Spain Inflation Rate Confirmed at Over 3-1/2-Year High of 4.9%

2026-10-14 07:21 By Luisa Carvalho 1 min. read

Spain’s annual inflation rate was confirmed at 4.9% in September 2026, its highest since February 2023, up from 4.3% in August.

Transportation was a key contributor to the acceleration, with inflation climbing to 10.5% from 9.5%, reflecting higher fuel and lubricant prices for personal vehicles.

Meanwhile, price growth accelerated significantly for recreation and culture (3.6% vs 1.2%), due to package holidays.

Upward pressure also came from housing & utilities (7.2% vs 6.4%) and food & non-alcoholic beverages (2.7% vs 2.3%).

Meanwhile, core inflation, excluding unprocessed food and energy products, inched up to 3.1% from 2.9% in August, reaching the highest level since March 2024.

Considering the EU-harmonised CPI, the annual inflation rate quickened to 5% from 4.6% in August, marking the highest reading since February 2023 and matching preliminary estimates.

Compared to the previous month, the CPI rose by 0.3%, following a 0.7% increase in August, in line with early estimates.



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Spain Inflation Rate Confirmed at Over 3-1/2-Year High of 4.9%
Spain’s annual inflation rate was confirmed at 4.9% in September 2026, its highest since February 2023, up from 4.3% in August. Transportation was a key contributor to the acceleration, with inflation climbing to 10.5% from 9.5%, reflecting higher fuel and lubricant prices for personal vehicles. Meanwhile, price growth accelerated significantly for recreation and culture (3.6% vs 1.2%), due to package holidays. Upward pressure also came from housing & utilities (7.2% vs 6.4%) and food & non-alcoholic beverages (2.7% vs 2.3%). Meanwhile, core inflation, excluding unprocessed food and energy products, inched up to 3.1% from 2.9% in August, reaching the highest level since March 2024. Considering the EU-harmonised CPI, the annual inflation rate quickened to 5% from 4.6% in August, marking the highest reading since February 2023 and matching preliminary estimates. Compared to the previous month, the CPI rose by 0.3%, following a 0.7% increase in August, in line with early estimates.
2026-10-14
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.
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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.
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