Inflation Spain 2025
Average inflation: 2.7%
Inflation in 2025
Inflation is normal at 2.7%, around the ECB target.
Peak and Trough
The highest inflation was in October at 3.1%. The lowest inflation was in May at 2.0%.
- Highest month
- October: 3.1%
- Lowest month
- May: 2.0%
- Difference
- 1.1 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 6.2%. The lowest price increase was in Clothing and footwear with an average of 0.4%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 6.2%
- Lowest increase
- Clothing and footwear: 0.4%
Historical Context
Inflation is 1.4 percentage points lower than the 5-year average of 4.1%.
- 5-year average
- 4.1%
- 10-year average
- 2.5%
- All-time high (2022)
- 8.4%
- All-time low (2015)
- -0.5%
Trend
Over the period 2023-2025, inflation has remained relatively stable. Compared to 2024, inflation has fallen by 0.1 percentage points.
- Change vs. previous year
- -0.1 percentage points
- Largest monthly swing
- May: -1.6 percentage points
ECB Target
Inflation is 0.7 percentage points 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 €102.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2025
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2024 |
|---|---|---|
| January | 2.9% | -0.5 |
| February | 3.0% | +0.2 |
| March | 2.3% | -0.9 |
| April | 2.2% | -1.1 |
| May | 2.0% | -1.6 |
| June | 2.3% | -1.1 |
| July | 2.7% | -0.1 |
| August | 2.7% | +0.4 |
| September | 3.0% | +1.5 |
| October | 3.1% | +1.3 |
| November | 3.0% | +0.6 |
| December | 2.9% | +0.1 |
| Average | 2.7% |
Data source
Data from OECD. Last updated: 17/01/2026.