Latest reading: Inflation ticked down to 4.0% in August from July’s 4.3%. August’s figure marked the lowest inflation rate since...
Inflation in Spain
Harmonized consumer price inflation averaged 1.9% in the ten years to 2024. The 2024 average figure was 2.9%. For more inflation information, visit our dedicated page.
Spain Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Spain from 2014 to 2024.
Source: Macrobond.
Spain Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -0.3 | 3.0 | 8.3 | 3.4 | 2.9 |
| Inflation (HICP, ann. var. %, eop) | -0.6 | 6.6 | 5.5 | 3.3 | 2.8 |
| Inflation (Core, ann. var. %, aop) | 0.7 | 0.8 | 5.2 | 6.0 | 2.9 |
| Inflation (PPI, ann. var. %, aop) | -4.3 | 17.3 | 35.5 | -4.7 | -3.7 |
Harmonized inflation comes in at highest level since February in July
Latest reading: Harmonized inflation increased to 2.7% in July, above June’s 2.3%. July's reading marked the highest inflation rate since February. Looking at the details of the release, prices for transportation rebounded, while housing and utilities costs rose at a faster clip. Annual average harmonized inflation remained at June's 2.4% in July. Meanwhile, consumer price inflation rose to 2.7% in July from the previous month's 2.3%. Lastly, harmonized consumer prices fell 0.34% from the previous month in July, swinging from June's 0.69% rise. July's result marked the weakest reading since July 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Spanish inflation projections for the next ten years from a panel of 35 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Spanish inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Spanish inflation projections.
Want to get access to the full dataset of Spanish inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Chile: Inflation falls to over one-year low in August -
Mexico: Inflation rises in August but remains on-target Latest reading: Inflation came in at 3.6% in August, which was up from July’s 3.5%. The reading was in line... -
China: Consumer prices post greatest decline since February in August Latest reading: Consumer prices fell 0.4% on an annual basis in August, swinging from July’s flat reading and a sharper... -
Taiwan: Inflation rises in August but remains mild Latest reading: Inflation rose to 1.6% in August, above July’s 1.5%. The acceleration was primarily driven by increasing price pressures... -
Hungary: Inflation remains stable in August Latest reading: Inflation came in at 4.3% in August, matching July’s figure and remaining above the ceiling of the Central... -
Dominican Republic: Inflation increases in August Latest reading: Inflation ticked up to 3.7% in August from July’s 3.4%, inching closer to the midpoint of the Central... -
Guatemala: Inflation remains stable in August Latest reading: Inflation came in at 1.2% in August, matching July’s figure. Price pressures for food and alcoholic beverages ticked...