Inflation Spain 2004
Average inflation: 3.0%
Current Inflation
Inflation is high at 3.0%, well above the ECB target.
Peak and Trough
The highest inflation was in October at 3.6%. The lowest inflation was in February at 2.1%.
- Highest month
- October: 3.6%
- Lowest month
- February: 2.1%
- Difference
- 1.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 4.4%. The lowest price increase was in Communication with an average of -1.0%.
- Highest increase
- Transport: 4.4%
- Lowest increase
- Communication: -1.0%
Historical Context
Current inflation is around the 5-year average of 3.2%. This approaches the lowest level since records began (3.0% in 2004).
- 5-year average
- 3.2%
- 10-year average
- 3.2%
- All-time high (2001)
- 3.6%
- All-time low (2004)
- 3%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.0 percentage point).
- Change vs. previous year
- +0.0 percentage points
- Largest monthly swing
- February: -1.7 percentage points
ECB Target
Inflation is 1.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 2.3% | -1.4 |
| February | 2.1% | -1.7 |
| March | 2.1% | -1.6 |
| April | 2.7% | -0.4 |
| May | 3.4% | +0.7 |
| June | 3.5% | +0.8 |
| July | 3.4% | +0.6 |
| August | 3.3% | +0.3 |
| September | 3.2% | +0.3 |
| October | 3.6% | +1.0 |
| November | 3.5% | +0.7 |
| December | 3.2% | +0.6 |
| Average | 3.0% |
Data source
Data from OECD. Last updated: 11/01/2026.