Latest reading: Inflation came in at 1.7% in July, down from June’s 1.9% and slightly below market expectations. July’s figure...
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 rises in June
Latest reading: Harmonized inflation came in at 2.3% in June, up from May’s 2.0%. The rebound was broad-based, with greater price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities. Annual average harmonized inflation fell to 2.4% in June (May: 2.5%). Meanwhile, consumer price inflation rose to 2.3% in June from May’s 2.0%. Lastly, harmonized consumer prices increased 0.69% from the previous month in June, swinging from May's 0.03% drop.
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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Israel: Inflation recedes in July Latest reading: Inflation came in at 3.1% in July, down from June’s 3.3% and matching market forecasts, but still above... -
United Kingdom: Inflation comes in at highest level since January 2024 in July Latest reading: Inflation increased to 3.8% in July, following June’s 3.6%. July’s figure was the highest inflation rate since January... -
Argentina: Inflation drops to lowest level since December 2020 in July Latest reading: Inflation eased to 36.6% in July, below June’s 39.4%. July’s figure marked the weakest inflation rate since December... -
Nigeria: Inflation declines in July Latest reading: Inflation came in at 21.9% in July, down from June’s 22.2%. The deceleration was primarily driven by lower... -
Angola: Inflation falls to over one-year low in July Latest reading: Inflation came in at 19.5% in July, down from June’s 19.7%, marking the 12th-straight deceleration and the weakest... -
Switzerland: Inflation remains minimal in July Latest reading: Inflation inched up to 0.2% in July, slightly above June’s 0.1% and market expectations of 0.1%. Prices rose...