La sagrada familia in Spain

Spain Inflation November 2023

Spain: Harmonized inflation drops in November

Harmonized inflation fell to 3.3% in November from October’s 3.5%. Softer increases in prices for food and non-alcoholic beverages, and recreation and culture were mainly behind the deceleration.

The trend declined, with annual average harmonized inflation coming in at 3.6% in November (October: 3.9%). Meanwhile, core inflation fell to 4.5% in November from 5.2% in October, marking the lowest print since April 2022.

Lastly, harmonized consumer prices fall 0.53% in November over the previous month, following the 0.26% increase seen in the previous month.

Commenting on the outlook, ING’s Wouter Thierie stated:

“In 2024, the disinflation process will continue. While headline inflation is expected to rise temporarily in the winter months, the disinflation process will intensify further next year, helped by slowing economic momentum. […] Moreover, Prime Minister Pedro Sanchez, who recently started his third term, has already announced the adoption or extension of several ani-inflationary measures.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen