Inflation Rate in Spain increased to 3 percent in February from 2.90 percent in January of 2025. This dataset 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.

The consumer price index in January 2025 decreased by over 0.5 percent compared to the same month of the previous year. This was an increase since October 2024, where inflation was 1.8 percent. Overall, July 2022 was the month and year that registered the highest inflation with 10.8 percent.

The statistic shows the inflation rate in Spain from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2023, the average inflation rate in Spain increased by about 3.4 percent compared to the previous year.

Inflation in Spain

As explained briefly above, inflation is commonly defined as the level of prices for goods and services in a country’s economy over a certain time span. It increases when the total money supply of a country increases, causing the money’s value to decrease, and prices to increase again in turn. Nowadays the term “inflation” is used more or less synonymously with “price level increase”. Its opposite is deflation, which, in short, means a decrease of the price level.

Spain and its economy have been severely affected by the financial crisis of 2008 (as can be seen above), when the real estate bubble imploded and caused the demand for goods and services to decrease and the unemployment rate in Spain to increase dramatically. Even though deflation only occurred for one year in 2009 and the price level has been increasing since, Spain’s economy still has a long way to go until full recovery. Apart from the inflation rate and the unemployment rate, gross domestic product / GDP growth in Spain and the trade balance of goods in Spain, i.e. the exports of goods minus the imports, are additional indicators of Spain’s desolate condition during the economic crisis and its slow and difficult recovery ever since.

Still, there is a silver lining for Spain’s economy. All in all, things seems to be improving economically, albeit slowly; many key indicators are starting to stabilize or even pick up again, while others still have some recovering to do.

The Consumer Price Index in Spain increased 0.40 percent in February of 2025 over the previous month. This dataset provides the latest reported value for - Spain Inflation Rate MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Core consumer prices in Spain increased 2.20 percent in February of 2025 over the same month in the previous year. This dataset provides - Spain Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the consumer price index (CPI) annual average in Spain increased by 3.5 percent. The largest annual variation of the period under consideration was registered in 2022, with 8.4 percent.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Spain (CPGRLE01ESQ657N) from Q1 1976 to Q3 2023 about Spain, core, all items, CPI, inflation, price index, indexes, and price.

March 2022 ranked as month with the the largest monthly increase during the period under consideration, with the percentage change of the consumer price index (CPI) reaching three percent. The largest negative variation since 2017 was -1.3 percent, a month-over-month percentage change recorded in January 2019. Spain's consumer price index has also been analyzed annually.

Spain ES: Inflation:(GDP) Gross Domestic ProductDeflator data was reported at 0.955 % in 2017. This records an increase from the previous number of 0.283 % for 2016. Spain ES: Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 5.936 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 23.383 % in 1977 and a record low of -0.195 % in 2014. Spain ES: Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Spain – Table ES.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; Median;

Inflation, monthly percent change in the CPI in Spain, February, 2025 The most recent value is 0.38 percent as of February 2025, an increase compared to the previous value of -0.14 percent. Historically, the average for Spain from February 1996 to February 2025 is 0.19 percent. The minimum of -2.46 percent was recorded in January 2016, while the maximum of 3.92 percent was reached in March 2022. | TheGlobalEconomy.com

Harmonised Inflation Rate MoM in Spain increased to 0.40 percent in February from -0.10 percent in January of 2025. This dataset includes a chart with historical data for Spain Harmonised Inflation Rate MoM.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Spain (CPGRLE01ESM657N) from Jan 1976 to Nov 2023 about Spain, core, all items, CPI, inflation, price index, indexes, and price.

The forecasted monthly evolution of the consumer price index (CPI) in Spain from July 2024 to December 2025 shows moderate fluctuations. The percentage change forecasted for April 2025 is 0.5 percent, the largest increase in the concerned period.

Graph and download economic data for Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: All Items Non-Food Non-Energy for Spain (CPGRLE01ESM659N) from Jan 1976 to Feb 2025 about Spain, core, all items, CPI, inflation, price index, indexes, and price.

Consumer Price Index CPI in Spain increased to 117.20 points in February from 116.73 points in January of 2025. This dataset provides the latest reported value for - Spain Consumer Price Index (CPI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Producer Price Inflation MoM in Spain increased to 1.20 percent in February from 0.40 percent in January of 2025. This dataset includes a chart with historical data for Spain Producer Price Inflation MoM.

Inflation, GDP deflator: linked series (annual %) in Spain was reported at 6.2353 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Spain - Inflation, GDP deflator: linked series (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Harmonised Core Inflation Index data was reported at 1.167 Index, 2020 in 2026. This records an increase from the previous number of 1.144 Index, 2020 for 2025. Harmonised Core Inflation Index data is updated yearly, averaging 0.912 Index, 2020 from Dec 1992 (Median) to 2026, with 35 observations. The data reached an all-time high of 1.167 Index, 2020 in 2026 and a record low of 0.554 Index, 2020 in 1992. Harmonised Core Inflation Index data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Spain – Table ES.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual.

The inflation rates of energy commodity prices in Spain increased significantly in 2021 and 2022. Electricity saw the steepest rise, with the inflation rate peaking at 107.8 percent in March 2022 before dropping later in the year. These increases in inflation were driven by Russia's invasion of Ukraine, which has caused uncertainty over Europe's security of gas supply, as well as intense energy price volatility.

Graph and download economic data for Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Spain (ESPCPIALLMINMEI) from Mar 1954 to Feb 2025 about Spain, all items, CPI, price index, indexes, and price.