MADRID, SPAIN / RankWire.AI / – According to final official data, Spain’s yearly inflation rate climbed to 3.6% in July from 3.2% in June. This figure surpassed the 3.5% preliminary estimate released on July 30. Consumer prices grew by 0.3% compared to June, exceeding the initial monthly forecast of 0.2%. The National Statistics Institute, or INE, confirmed that the July data are conclusive and will not be revised further.
Transport contributed the most to the annual increase, with prices in that sector rising 6.2% year-on-year. This rise mainly reflected higher costs for fuel and lubricants used in personal vehicles, which increased more sharply than they did in July 2025. Housing expenses also grew by 5.7% annually, a full percentage point higher than in June, driven by faster increases in electricity prices compared to the previous year.
Core inflation, which excludes unprocessed food and energy, slightly increased from 2.9% in June to 3.0%. The Harmonised Index of Consumer Prices (HICP) for Spain rose by 3.9% compared to the previous year, up from 3.6% in June. The final harmonised inflation rate also beat the initial estimate of 3.8%. On a monthly basis, the harmonised index remained unchanged in July. This measure enables comparison of price levels across European Union countries using a common framework.
Fuel and electricity costs push up July prices
During July, monthly transport prices increased by 2.3%, making it the largest positive contribution to Spain’s overall CPI for the month. Housing costs also rose by 1.6% due to higher electricity rates and smaller increases in gas and liquid fuels. Prices for recreation, sport, and culture grew by 2.3%, mainly driven by higher costs for package holidays. These increases outweighed declines observed in other consumer categories.
Prices for clothing and footwear dropped 10.2% from June, primarily because of summer sales reducing prices across that segment. Food and non-alcoholic beverage prices decreased by 0.7%, reflecting lower prices for fruit, nuts, vegetables, pulses, and potatoes. Among Spain’s autonomous communities, Cantabria experienced the highest annual CPI increase at 4.3%, while Extremadura recorded the lowest rate at 3.0%. The national inflation rate stood at 3.6%.
Spain’s harmonised inflation rate remains above the euro-area average
Spain’s harmonised inflation of 3.9% continued to be above the euro-area preliminary estimate of 2.9% for July. In June, the euro-area inflation was 2.8% before rising slightly in July. Eurostat published July’s euro-area figure as an initial estimate, whereas Spain’s national harmonised rate is definitive. The harmonised index allows for inflation rate comparisons across EU economies using a standardized approach.
Spain’s recent headline CPI trend has been upward, following a March peak at 3.4%. The rate then declined to 3.2% in April, May, and June, before climbing again in July. Core inflation moved from 2.8% in April to 3.0% in May, dipped slightly to 2.9% in June, and increased again to 3.0% in July. The INE calculates the CPI based on roughly 200,000 monthly price observations covering goods and services bought by households across Spain.
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