Spain's consumer prices rose 2.2% from a year earlier in April of 2021, the most since October of 2018 and matching a preliminary estimate. Main upward pressure came from prices of housing (10% vs 4.3% in March), namely electricity (36.9% vs 14.6%) amid greater demand from businesses and soaring gas prices; and transport (7.4% vs 3.8%), of which fuels such as diesel (16.5% vs 6.8%) and petrol (20.2% vs 8.9%). On the other hand, inflation slowed for food & non-alcoholic beverages (0.3% vs 1.4%), while costs decreased mostly for communications (-4.6% vs -4.9%); recreation & culture (-1.2% vs -0.2%) and hotels, cafes & restaurants (-0.5% vs flat reading). On a monthly basis, consumer prices went up 1.2%, the most since April of 2012 and matching an earlier estimate; and the harmonised index advanced 2%, after a 1.2% rise in March and slightly above a preliminary reading of 1.9% source: National Statistics Institute (INE)
Inflation Rate in Spain averaged 6.47 percent from 1955 until 2021, 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 May of 2021.
Inflation Rate in Spain is expected to be 1.80 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 1.30 in 12 months time. In the long-term, the Spain Inflation Rate is projected to trend around 1.50 percent in 2022 and 1.80 percent in 2023, according to our econometric models.