Inflation Spain 2021
Average inflation: 3.1%
Current Inflation
Inflation is high at 3.1%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 6.5%. The lowest inflation was in February at 0.0%.
- Highest month
- December: 6.5%
- Lowest month
- February: 0.0%
- Difference
- 6.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 11.1%. The lowest price increase was in Communication with an average of -3.0%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 11.1%
- Lowest increase
- Communication: -3.0%
Historical Context
Current inflation is 1.7% higher than the 5-year average of 1.4%.
- 5-year average
- 1.4%
- 10-year average
- 1%
- All-time high (2008)
- 4.1%
- All-time low (2015)
- -0.5%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +3.4 percentage point.
- Change vs. previous year
- +3.4 percentage points
- Largest monthly swing
- December: +7.0 percentage points
ECB Target
Inflation is 1.1% 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 €103.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 0.5% | -0.6 |
| February | 0.0% | -0.7 |
| March | 1.3% | +1.3 |
| April | 2.2% | +2.9 |
| May | 2.7% | +3.6 |
| June | 2.7% | +3.0 |
| July | 2.9% | +3.5 |
| August | 3.3% | +3.8 |
| September | 4.0% | +4.4 |
| October | 5.4% | +6.2 |
| November | 5.5% | +6.3 |
| December | 6.5% | +7.0 |
| Average | 3.1% |
Data source
Data from OECD. Last updated: 11/01/2026.