MADRID, SPAIN / RankWire.AI / – The annual consumer price inflation in Spain reached 3.6% in July, up from 3.2% in June, according to official final figures. This exceeded the earlier flash estimate of 3.5% issued on July 30. Consumer prices saw a monthly rise of 0.3%, surpassing the preliminary estimate of 0.2%. The National Statistics Institute, or INE, confirmed that the July data is definitive and subject to no further revisions.
Transport contributed most significantly to the annual increase, with prices in this sector climbing 6.2% from the previous year. The rise was driven by higher costs for fuel and lubricants used in personal vehicles, with prices increasing more sharply than they did in July 2025. Housing expenses also rose by 5.7% annually, a one percentage point increase from June, as electricity prices accelerated compared to the previous year.
Core inflation, which excludes unprocessed food and energy, edged upward to 3.0% from 2.9% in June. Spain’s Harmonised Index of Consumer Prices increased by 3.9% year-on-year, compared to 3.6% in June. This final harmonised rate was higher than the initial estimate of 3.8%. On a month-to-month basis, the harmonised index remained stable in July. This index enables cross-country comparisons within the European Union.
Fuel and electricity costs drive July price increases
During July, monthly transport costs surged by 2.3%, making it the primary contributor to Spain’s headline CPI for the month. Housing prices increased by 1.6%, mainly due to higher electricity bills and smaller increases in gas and liquid fuels. Prices for recreation, sport, and culture also rose 2.3%, fueled by higher costs for package holidays. These increases offset declines in other consumer categories.
Prices for clothing and footwear dropped 10.2% from June, reflecting summer sales discounts across the category. Food and non-alcoholic beverages fell by 0.7%, driven by 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 at 3.0%. The national inflation rate stood at 3.6%.
Spain’s harmonised inflation remains above euro-area levels
Spain’s 3.9% harmonised inflation rate stayed above the euro area’s initial July estimate of 2.9%. The euro area inflation was 2.8% in June before rising slightly in July. Eurostat reported the July euro-area figure as an initial estimate, whereas Spain’s national harmonised rate is final. The harmonised index allows for comparable inflation measurement across EU nations.
Spain’s recent inflation trend shows an upward trajectory since March, when the annual CPI was 3.4%. It then declined slightly 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, then down to 2.9% in June, and back up to 3.0% in July. The INE calculates the CPI based on roughly 200,000 monthly price observations covering goods and services purchased by households nationwide.