Consumer prices in Spain dropped 0.4 percent year-on-year in September 2020, following a 0.5 percent fall in August and matching a preliminary estimate. Prices declined less for housing & utilities (-1.4% vs -2.7% in August); and recreation & culture (-1.1% vs -2.1%). Also, cost of food & non-alcoholic beverages rose further (2.4% vs 2.2%). Meanwhile, prices dropped at a faster pace for transportation (-5% vs -4.4%) and communications (-1.4% vs -1.2%). In addition, cost of health slowed (0.4% vs 0.5%) while inflation was steady for alcoholic beverages & tobacco (at 0.5%). The harmonised index of consumer prices went down 0.6% over a year earlier, the same as in the prior month, in line with a preliminary estimate. On a monthly basis, consumer prices increased 0.2% and the harmonised index advanced 0.4%, both matching a preliminary estimate. The prices of the products included in the COVID-19 special goods group were unchanged in September, while those of services rose 0.6%.
Inflation Rate in Spain averaged 6.53 percent from 1955 until 2020, reaching an all time high of 28.43 percent in August of 1977 and a record low of -1.37 percent in July of 2009. This page provides the latest reported value for - Spain Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Statistics Institute (INE)
Inflation Rate in Spain is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Spain to stand at 1.20 in 12 months time. In the long-term, the Spain Inflation Rate is projected to trend around 1.40 percent in 2021 and 1.50 percent in 2022, according to our econometric models.