Annual inflation rate in Spain jumped to 10.2% in June of 2022 from 8.7% in May, much higher than market forecasts of 9%, preliminary estimates showed. It is the highest inflation rate since April of 1985, mainly due to rising cost of fuels and lubricants, food and non-alcoholic beverages and hotels, cafés and restaurants. Excluding cost of food and energy, core inflation rose to 5.5%, the highest since August of 1993. The harmonized inflation rate surged to a record 10%. Compared to the previous month, both the national CPI and the EU harmonized surged 1.8%. source: National Statistics Institute (INE)
Inflation Rate in Spain averaged 6.46 percent from 1955 until 2022, 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 July of 2022.
Inflation Rate in Spain is expected to be 9.20 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 2.00 percent in 2023 and 1.00 percent in 2024, according to our econometric models.