MADRID, SPAIN / RankWire.AI / – The annual consumer price inflation in Spain climbed to 3.6% in July, up from 3.2% in June, according to final official data. This figure exceeded the initial flash estimate of 3.5% released on July 30. Consumer prices saw a monthly increase of 0.3%, surpassing the preliminary estimate of 0.2%. The National Statistics Institute, or INE, confirmed the July figures are definitive and will not undergo further revision.
Transport was the main contributor to the annual rise, with prices in that category increasing by 6.2% compared to the previous year. The escalation primarily reflected higher fuel and lubricant costs for personal vehicles, which grew more sharply than they had in July 2025. Housing expenses also rose by 5.7% on an annual basis, one percentage point higher than in June, driven by faster-growing electricity prices compared to the previous year.
Core inflation, which excludes unprocessed food and energy products, edged up from 2.9% in June to 3.0%. Spain’s Harmonised Index of Consumer Prices (HICP) increased by 3.9% year-over-year, compared to 3.6% in June. The final harmonised inflation rate also surpassed the earlier estimate of 3.8%. On a monthly basis, the harmonised index remained unchanged in July. This indicator is used to facilitate price comparisons across European Union countries using a standardized measurement framework.
Rising fuel and electricity prices push July costs higher
Transport costs in July increased by 2.3%, making it the largest positive contributor to Spain’s headline CPI for that month. Housing prices also climbed by 1.6%, mainly due to higher electricity tariffs and smaller increases in gas and liquid fuels. Additionally, prices for recreation, sport, and culture rose by 2.3%, driven by more expensive holiday packages. These increases collectively outweighed declines in other consumer categories.
Prices for clothing and footwear dropped by 10.2% from June, owing to summer sales that lowered prices in that segment. Food and non-alcoholic beverage costs fell 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 registered the lowest at 3.0%. The national inflation rate stood at 3.6%.
Spain’s harmonised inflation rate remains above the euro-area average
Spain’s 3.9% harmonised inflation rate continued to outpace the euro area’s 2.9% flash estimate for July. Euro-area inflation had been 2.8% in June before rising slightly in July. Eurostat released the initial July estimate for the euro area, whereas Spain’s harmonised inflation figure is finalized. The harmonised index employs a common methodology allowing for inflation comparisons across EU nations.
The July data indicates a continued upward trend in Spain’s headline CPI after reaching 3.4% in March. The rate then stood at 3.2% in April, May, and June, before climbing again in July. Core inflation shifted from 2.8% in April to 3.0% in May, then slightly decreased to 2.9% in June before rising back 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 across Spain.