The annual inflation rate in Spain increased to 1.5 percent in April 2019 from 1.3 percent in the previous month and matching a preliminary estimate and market expectations. It was the highest inflation rate in five months, mainly driven by cost of tourist packages and transportation. Inflation Rate in Spain averaged 6.67 percent from 1955 until 2019, 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.

Inflation Rate in Spain is expected to be 1.40 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 1.80 in 12 months time. In the long-term, the Spain Inflation Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.

Spain Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-28 08:00 AM Inflation Rate YoY Prel 1.3% 1.1% 1.3% 1.2%
2019-04-12 07:00 AM Inflation Rate YoY Final 1.3% 1.1% 1.3% 1.3%
2019-04-30 07:00 AM Inflation Rate YoY Prel 1.5% 1.3% 1.5% 1.2%
2019-05-14 07:00 AM Inflation Rate YoY Final 1.5% 1.3% 1.5% 1.5%
2019-05-30 07:00 AM Inflation Rate YoY Prel 1.5% 1.3%
2019-06-12 07:00 AM Inflation Rate YoY Final 1.5%
2019-06-27 07:00 AM Inflation Rate YoY Prel 1.4%



Spain Annual Inflation Rate Confirmed at 1.5% in April

The annual inflation rate in Spain increased to 1.5 percent in April 2019 from 1.3 percent in the previous month and matching a preliminary estimate and market expectations. It was the highest inflation rate in five months, mainly driven by cost of tourist packages and transportation.

Year-on-year, prices went up further for transport (3.2 percent from 3.0 percent in March), namely air transportation; hotels, cafes & restaurants (2.3 percent from 1.8 percent), mostly due to accommodation services; clothing & footwear (1.1 percent from 0.9 percent); and health (1.0 percent from 0.9 percent). Additionally, cost of recreation & culture rebounded (0.3 percent from -1.6 percent), boosted by tourist packages.

Meanwhile, prices eased for food & non-alcoholic beverages (0.8 percent from 0.9 percent), led by fresh pulses & vegetables (5.9 percent vs 7.8 percent); housing & utilities (2.0 percent from 2.1 percent), driven by electricity & gas (3.6 percent vs 0.7 percent); miscellaneous goods & services (1.4 percent from 1.5 percent); communications (0.1 percent from 1.4 percent); and alcoholic beverages & tobacco (0.7 percent from 1.0 percent). Also, inflation was steady for education (at 1.0 percent, the same as in March) and furnishings (at 0.6 percent). 

Annual core inflation, which excludes volatile items such as food and energy, rose to 0.9 percent in April from 0.7 percent in March. 

On a monthly basis, consumer prices went up 1.0 percent, after a 0.4 percent gain in the prior month and in line with a flash estimate and market consensus. Main upward pressure came from clothing & footwear (10.5 percent from 4.4 percent), due to the the new spring-summer season.

The harmonized index of consumer prices advanced 1.6 percent year-on-year (from 1.3 percent in March), and increased 1.1 percent from the previous month (from 1.4 percent in March).


INE | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/14/2019 7:30:09 AM



Spain Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.30 28.43 -1.37 percent [+]
Inflation Rate Mom 1.00 0.40 4.58 -1.90 percent [+]
Consumer Price Index CPI 104.74 103.70 104.99 1.83 Index Points [+]
Harmonised Consumer Prices 105.04 103.90 105.04 53.60 Index Points [+]
Core Consumer Prices 103.15 102.04 103.15 9.42 Index Points [+]
Core Inflation Rate 0.90 0.70 27.10 -0.10 percent [+]
Producer Prices 104.00 104.50 106.30 12.60 Index Points [+]
Producer Prices Change 2.40 1.70 24.60 -6.70 percent [+]
Export Prices 113.00 111.70 114.40 13.70 Index Points [+]
Import Prices 107.70 109.50 116.80 12.20 Index Points [+]
Food Inflation 0.80 0.90 7.20 -2.75 percent [+]
CPI Housing Utilities 105.45 105.63 108.68 66.03 Index Points [+]
CPI Transportation 110.19 108.78 110.76 71.87 Index Points [+]


Spain Inflation Rate

In Spain, the most important categories in the consumer price index are food and non-alcoholic beverages (20 percent of the total weight), transport (15 percent), housing and utilities (13 percent) and hotels, cafés and restaurants (12 percent). The index also includes: Recreation and culture (9 percent); miscellaneous goods and services (7 percent); and clothing and footwear (7 percent). Furnishings, household equipment and routine maintenance of the house; health; communications; alcoholic beverages and tobacco; and education account for the remaining 18 percent of total weight. 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 - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.30 28.43 -1.37 1955 - 2019 percent Monthly
2011=100




Country Last Previous
Argentina 55.80 Apr/19
Australia 1.30 Mar/19
Brazil 4.94 Apr/19
Canada 2.00 Apr/19
China 2.50 Apr/19
Euro Area 1.70 Apr/19
France 1.30 Apr/19
Germany 2.00 Apr/19
India 2.92 Apr/19
Indonesia 2.83 Apr/19
Italy 1.10 Apr/19
Japan 0.50 Mar/19
Mexico 4.41 Apr/19
Netherlands 2.90 Apr/19
Russia 5.20 Apr/19
Saudi Arabia -1.90 Apr/19
Singapore 0.60 Mar/19
South Africa 4.50 Mar/19
South Korea 0.60 Apr/19
Spain 1.50 Apr/19
Switzerland 0.70 Apr/19
Turkey 19.50 Apr/19
United Kingdom 1.90 Mar/19
United States 2.00 Apr/19


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