Spain's EU-harmonized consumer price inflation eased to 2.9 percent year-on-year in May 2023, down from 3.8 percent in April and below market expectations of 3.4 percent, a preliminary estimate showed. It was the lowest rate since July 2021, but still above the European Central Bank's target of 2.0 percent. source: National Statistics Institute (INE)

Harmonised Inflation Rate YoY in Spain averaged 2.58 percent from 1993 until 2023, reaching an all time high of 10.70 percent in July of 2022 and a record low of -1.50 percent in January of 2015. This page includes a chart with historical data for Spain Harmonised Inflation Rate YoY. Spain Harmonised Inflation Rate YoY - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Harmonised Inflation Rate YoY in Spain is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Harmonised Inflation Rate YoY is projected to trend around 3.50 percent in 2024 and 1.80 percent in 2025, according to our econometric models.

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Spain Harmonised Inflation Rate YoY

Calendar GMT Actual Previous Consensus TEForecast
2023-05-12 07:00 AM Harmonised Inflation Rate YoY Final Apr 3.8% 3.1% 3.8% 3.8%
2023-05-30 07:00 AM Harmonised Inflation Rate YoY Prel May 2.9% 3.8% 3.4% 3.4%
2023-06-13 07:00 AM Harmonised Inflation Rate YoY Final May 3.8% 2.9% 2.9%

Related Last Previous Unit Reference
Inflation Rate 3.20 4.10 percent May 2023
Harmonised Consumer Prices 119.38 119.61 points May 2023
Harmonised Inflation Rate MoM -0.20 0.50 percent May 2023

Spain Harmonised Inflation Rate YoY
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.
Actual Previous Highest Lowest Dates Unit Frequency
2.90 3.80 10.70 -1.50 1993 - 2023 percent Monthly