La sagrada familia in Spain

Spain Inflation January 2023

Spain: Harmonized inflation rises in January

Harmonized inflation rose to 5.9% in January, following December’s 5.5%. Stronger price pressures for transport and other goods and services were mainly behind the reading.

The trend remained stable, with annual average harmonized inflation coming in at 8.3% in January (December: 8.3%). However, core inflation jumped to 7.5% in January from 7.0% in December, marking the highest reading since 1992.

Lastly, harmonized consumer prices fell 0.21% in January over the previous month, contrasting the 0.15% increase seen in December.

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