Spanish annual inflation climbs to 4.9 per cent, its highest in more than three years

23 October 2026

Spain's National Statistics Institute reported that the annual rate of the Consumer Price Index reached 4.9 per cent in September 2026, six tenths above the August figure of 4.3 per cent. That is the highest annual rate since February 2023. The monthly change was 0.3 per cent. Core inflation, which strips out unprocessed food and energy, rose two tenths to 3.1 per cent. The Harmonised Index of Consumer Prices, the comparable European measure, showed an annual rate of 5.0 per cent and a monthly rate of 0.6 per cent. Transport rose 10.5 per cent over the year, driven by vehicle fuels and air passenger transport. Prices rose year on year in every autonomous community, with Castilla-La Mancha and Galicia highest at 5.5 per cent and the Canary Islands and Aragon lowest at 4.4 per cent.