Spain's annual consumer price inflation was confirmed at 3.2% in March 2024, up from February's six-month low of 2.8%. Upward pressure came primarily from prices of housing & utilities (+1.5% vs -2.7% in February), of which electricity on the VAT rise; transportation (+2.9% vs 2.4%), notably fuels; and recreation & culture (+3.8% vs +2.8%). Meanwhile, price growth decelerated for food & non-alcoholic beverages (+4.3% vs +5.3%). The core rate slowed to 3.3% in March, the lowest since February 2022, from 3.5% in February, in line with preliminary estimates. Spain's European Union-harmonised 12-month inflation accelerated to 3.3% in March, compared with February's reading of 2.9%, slightly higher than 3.2% in the preliminary estimate. Compared to the previous month, the national CPI inched up by 0.8% in March, matching the preliminary estimate; and the EU harmonized rose by 1.4%, slightly above the earlier estimate of 1.3%. source: National Statistics Institute (INE)

Inflation Rate in Spain increased to 3.20 percent in March from 2.80 percent in February of 2024. Inflation Rate in Spain averaged 6.42 percent from 1955 until 2024, reaching an all time high of 28.43 percent in August of 1977 and a record low of -1.37 percent in July of 2009. This page 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. Spain Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Inflation Rate in Spain increased to 3.20 percent in March from 2.80 percent in February of 2024. Inflation Rate in Spain is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Inflation Rate is projected to trend around 2.00 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-27 08:00 AM Inflation Rate YoY Prel Mar 3.2% 2.8% 3.2% 2.8%
2024-04-12 07:00 AM Inflation Rate YoY Final Mar 3.2% 2.8% 3.2% 3.2%
2024-04-29 07:00 AM Inflation Rate YoY Prel Apr 3.2% 3.1%


Related Last Previous Unit Reference
CPI 114.67 113.81 points Mar 2024
Core Consumer Prices 113.87 113.21 points Mar 2024
Core Inflation Rate YoY Prel 3.30 3.50 percent Mar 2024
CPI Housing Utilities 105.75 103.43 points Mar 2024
CPI Transportation 113.63 113.06 points Mar 2024
Food Inflation 4.30 5.34 percent Mar 2024
Harmonised Consumer Prices 122.93 121.29 points Mar 2024
Inflation Rate YoY Prel 3.20 2.80 percent Mar 2024
Inflation Rate MoM Prel 0.80 0.30 percent Mar 2024
Producer Prices 120.30 123.00 points Mar 2024
PPI YoY -8.20 -8.50 percent Mar 2024

Spain Inflation Rate
In Spain, the most important categories in the Consumer Price Index are: Foods & Non-alcoholic Beverages (23% of the total weight), Housing, Water, Electricity, Gas & Other Fuels (14%), Restaurants & Hotels (13%) and Transport (13%). The index also includes: Recreation & Culture (6%), Miscellaneous Goods & Services (6%), Clothing & Footwear (6%), Furnishings, Household Equipment & Routine Maintenance (6%), Health (4%), Communications (4%), Alcoholic Beverages & Tobacco (3%), and Education (2%).
Actual Previous Highest Lowest Dates Unit Frequency
3.20 2.80 28.43 -1.37 1955 - 2024 percent Monthly
2011=100

News Stream
Spain March Inflation Rate Confirmed Higher at 3.2%
Spain's annual consumer price inflation was confirmed at 3.2% in March 2024, up from February's six-month low of 2.8%. Upward pressure came primarily from prices of housing & utilities (+1.5% vs -2.7% in February), of which electricity on the VAT rise; transportation (+2.9% vs 2.4%), notably fuels; and recreation & culture (+3.8% vs +2.8%). Meanwhile, price growth decelerated for food & non-alcoholic beverages (+4.3% vs +5.3%). The core rate slowed to 3.3% in March, the lowest since February 2022, from 3.5% in February, in line with preliminary estimates. Spain's European Union-harmonised 12-month inflation accelerated to 3.3% in March, compared with February's reading of 2.9%, slightly higher than 3.2% in the preliminary estimate. Compared to the previous month, the national CPI inched up by 0.8% in March, matching the preliminary estimate; and the EU harmonized rose by 1.4%, slightly above the earlier estimate of 1.3%.
2024-04-12
Spain Inflation Rate Rises to 3.2% in March
Spain's consumer price inflation rate rose to 3.2% year-on-year in March 2024, up from February's six-month low of 2.8% and in line with with market expectations, a preliminary estimate showed. Electricity and fuel prices rose, while the cost for food and non-alcoholic beverages increased at a slower pace. The core rate, excluding volatile items like food and energy, eased to 3.3% from the previous month's 3.5%, marking the lowest level since February 2022. Spain's European Union-harmonised 12-month inflation accelerated to 3.2% from 2.9%, but came in slightly below the market consensus of 3.3%.
2024-03-27
Spain Inflation Rate Confirmed at 6-Month Low
The annual inflation rate in Spain fell to 2.8% in February 2024, the lowest in six months, from 3.4% in January and in line with preliminary estimates. Prices eased for food & non-alcoholic beverages (5.3 percent vs 7.4 percent in January), recreation & culture (2.8 percent vs 3.1 percent), miscellaneous goods & services (3.3 percent vs 3.4 percent), clothing & footwear (1.9 percent vs 2.5percent), furniture & household equipment (1.4 percent vs 1.7 percent), and communication (0.4 percent vs 0.5 percent). Additionally. prices fell for housing & utilities (-2.7 percent vs 1.5 percent) while inflation was steady for education (at 2.8 percent) and health (at 2.2 percent). On the other hand, cost rebounded for transport (2.4 percent vs -0.1 percent) and prices accelerated for restaurants & hotels (5.5 percent vs 5.4 percent) and alcoholic beverages & tobacco (4.7 percent vs 4.2 percent). On a monthly basis, consumer prices went up 0.4 percent, following a 0.1% increase in January.
2024-03-14