MADRID, SPAIN / RankWire.AI / – According to the final official figures, Spain’s annual consumer price inflation increased to 3.6% in July, up from 3.2% in June. This outcome exceeded the initial 3.5% flash estimate released on July 30. Consumer prices saw a monthly rise of 0.3% from June, surpassing the preliminary estimate of 0.2%. The National Statistics Institute, or INE, stated that the July numbers are definitive and will not be subject to further revision.
Transport was the primary factor driving the annual increase, with prices within that sector climbing 6.2% year over year. The rise was influenced by higher fuel and lubricant costs for personal vehicles, which grew more sharply than in July 2025. Housing expenses increased by 5.7% annually, a one percentage point rise from June’s rate, as electricity prices accelerated more rapidly than the previous year.
Core inflation, excluding unprocessed food and energy products, edged upward to 3.0% from 2.9% in June. Spain’s Harmonised Index of Consumer Prices (HICP) grew by 3.9% compared to the previous year, compared with 3.6% in June. The final harmonised rate also surpassed the earlier estimate of 3.8%. On a monthly basis, the HICP remained unchanged in July. This measure serves as a standard for price comparisons across EU countries.
Fuel and electricity costs push July prices higher
Transport costs increased by 2.3% in July, making it the largest positive contribution to Spain’s headline CPI for the month. Housing prices rose 1.6%, driven by higher electricity charges and smaller increases in gas and liquid fuels. Additionally, prices for recreation, sport, and culture also increased by 2.3%, mainly due to more expensive package holidays. These rises offset declines seen in other parts of the consumer basket.
Prices for clothing and footwear fell 10.2% from June, mainly due to summer sales reducing costs in that category. Food and non-alcoholic beverages declined 0.7%, reflecting lower prices for fruit, nuts, vegetables, pulses, and potatoes. Among Spain’s autonomous communities, Cantabria experienced the highest annual CPI rise at 4.3%. Extremadura registered the lowest rate at 3.0%, while the national figure stood at 3.6%.
Spain’s harmonised inflation remains above the euro-area average
Spain’s 3.9% harmonised inflation rate continued to stay above the euro area’s 2.9% flash estimate for July. Euro-area inflation was 2.8% in June before increasing slightly in July. Eurostat released the July euro-area figure as an initial estimate, while Spain’s national harmonised rate is confirmed as final. The harmonised index follows a common framework, enabling direct comparison of inflation rates across European Union member states.
The July data maintains a trend of rising Spain’s headline CPI after the annual rate hit 3.4% in March. It then remained at 3.2% through April, May, and June before climbing again in July. Core inflation moved from 2.8% in April to 3.0% in May, then to 2.9% in June and 3.0% in July. The INE calculates the CPI based on approximately 200,000 monthly price observations covering goods and services purchased by households across Spain.