{"id":70049,"date":"2026-08-13T10:49:38","date_gmt":"2026-08-13T10:49:38","guid":{"rendered":"https:\/\/www.europesays.com\/spain\/70049\/"},"modified":"2026-08-13T10:49:38","modified_gmt":"2026-08-13T10:49:38","slug":"inflation-in-spain-hits-its-highest-in-two-years","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/spain\/70049\/","title":{"rendered":"Inflation in Spain hits its highest in two years"},"content":{"rendered":"

Spain<\/a>\u2019s European Union-harmonized inflation<\/a> rate climbed to 3.9% in the 12 months through July, up from 3.6% in June, according to final data published by the National Statistics Institute on Thursday. The final figure surpassed both the 3.8% flash estimate released two weeks earlier and the average forecast from analysts surveyed by Reuters.<\/p>\n

Core inflation, which excludes volatile fresh food and energy prices, increased to 3.0% in the 12 months through July from 2.9% in June, the institute reported. With July\u2019s figure, which was driven by energy bills, Spanish inflation has now recorded five consecutive months with a year-on-year rate above 3 per cent.<\/p>\n

The INE explained that in July, prices were driven up by housing costs, as a result of rising electricity prices and, to a lesser extent, gas and liquid fuels, as well as transport, due to the increase in fuel prices<\/a>.<\/p>\n

The Ministry of Economy has noted that diesel recorded a year-on-year increase of 15.7 per cent in July, exceeding the 15 per cent threshold set out in the decree on measures to mitigate the impact of the war<\/a> in Iran.<\/p>\n

As this threshold has been exceeded, the safeguard clause in the response plan is automatically triggered, meaning that the reduction in the hydrocarbons tax applicable to diesel will rise to 20 c\u00e9ntimos per litre in September, compared with the 5 c\u00e9ntimos initially planned for that month.<\/p>\n

Meanwhile, petrol, whose sub-category recorded a year-on-year change of 7.3 per cent in July \u2013 below the 15 per cent threshold \u2013 will follow the standard schedule for the gradual withdrawal of the reduction, with a reduction of 5 c\u00e9ntimos per litre in September.<\/p>\n

By contrast, the year-on-year rise in food prices moderated in July. \u201cInflationary pressure has not spilled over into food prices, for which the year-on-year change was 1.6 per cent, three tenths of a percentage point below June\u2019s rate and the lowest level seen since 2021,\u201d the Ministry of Economy highlighted.<\/p>\n

The transport sector saw its annual rate rise by more than one percentage point to 6.2 per cent, due to higher prices for fuel and lubricants for private vehicles, which rose more sharply than in July 2025, whilst housing recorded an annual rate of 5.7 per cent, one percentage point higher than last month. This trend was mainly due to electricity prices, which rose more than in the same month of 2025. In fact, electricity prices rose by 8.4 per cent year-on-year, whilst natural gas prices rose by 4.1 per cent.<\/p>\n

According to data published on Thursday by the INE, core inflation (excluding unprocessed food and energy products) stood at 3% in July, a figure that matches the preliminary estimate released by the agency at the end of last month and represents a rise of one-tenth of a percentage point compared with June.<\/p>\n

Meanwhile, the harmonised CPI (HICP) rose by three tenths of a percentage point year-on-year in July, reaching 3.9 per cent, with a monthly change of 0.0 per cent. As for the year-on-year inflation rate at constant tax rates (which does not take into account the latest tax changes), the INE reports that it stood at 4.1% in July, five tenths of a percentage point above the overall rate.<\/p>\n","protected":false},"excerpt":{"rendered":"Spain\u2019s European Union-harmonized inflation rate climbed to 3.9% in the 12 months through July, up from 3.6% in…\n","protected":false},"author":2,"featured_media":70050,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1254,1955,5485,8196,605,599,600,27490,8467,17,27491,4871,27],"class_list":["post-70049","post","type-post","status-publish","format-standard","has-post-thumbnail","category-spain","tag-balearics","tag-cost-of-living","tag-fuel-prices","tag-inflation","tag-latest-headlines","tag-majorca","tag-mallorca","tag-mallorca-food","tag-shopping","tag-spain","tag-spain-electricity-prices","tag-usa-and-iran","tag-war"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/70049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/comments?post=70049"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/70049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media\/70050"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media?parent=70049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/categories?post=70049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/tags?post=70049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}