MADRID, SPAIN / RankWire.AI / – In Spain, the official final data for July shows an increase in the annual consumer price inflation to 3.6%, up from 3.2% in June. This figure exceeds the earlier flash estimate of 3.5% released on July 30. Consumer prices grew by 0.3% compared to June, surpassing the preliminary monthly estimate of 0.2%. According to the National Statistics Institute, or INE, the July data is definitive and will not be subject to further revision.
Transport contributed most significantly to the annual increase, with prices in that sector rising 6.2% from the previous year. This growth was primarily driven by higher fuel and lubricant costs for personal vehicles, with prices rising more sharply than in July 2025. Housing costs also saw an annual rise of 5.7%, one percentage point higher than in June, as electricity prices accelerated faster than the previous year.
Core inflation, which excludes unprocessed food and energy items, inched up to 3.0% from 2.9% in June. Spain’s Harmonised Index of Consumer Prices increased by 3.9% year-over-year, compared to 3.6% in June. The final harmonised rate also surpassed the initial estimate of 3.8%. On a month-to-month basis, the harmonised index remained unchanged in July. This measure facilitates standardized price comparisons across European Union member states.
Fuel and electricity push July price levels higher
During July, transport costs rose by 2.3%, representing the largest positive contribution to Spain’s overall CPI for the month. Housing prices increased by 1.6% month-on-month, mainly due to higher electricity prices and smaller increases in gas and liquid fuels. Additionally, prices for recreation, sport and culture also went up by 2.3%, driven by increased package holiday costs. These increases more than offset declines observed in other consumer categories.
In June, prices for clothing and footwear declined by 10.2%, influenced by summer sales reducing prices across that sector. Food and non-alcoholic beverage prices decreased by 0.7%, reflecting lower costs for fruit, nuts, vegetables, pulses and potatoes. Among Spain’s autonomous communities, Cantabria experienced the highest annual CPI rise at 4.3%, while Extremadura recorded the lowest at 3.0%. The national inflation rate for July stood at 3.6%.
Spain’s harmonised inflation rate remains above the euro-area average
Spain’s harmonised inflation rate for July, at 3.9%, continued to stay above the euro-area’s initial flash estimate of 2.9%. In June, euro-area inflation was recorded at 2.8% before increasing slightly in July. Eurostat published the July euro-area figure as an early estimate, whereas Spain’s national harmonised rate is considered final. The harmonised index uses a common framework that enables consistent inflation comparisons across EU countries.
The July data reflect a continuing upward trend in Spain’s headline CPI after reaching 3.4% in March. The rate then decreased 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 to 2.9% in June and back to 3.0% in July. The INE calculates the CPI based on approximately 200,000 monthly price observations covering goods and services purchased by households throughout Spain.