MADRID, SPAIN / RankWire.AI / – According to final official data, Spain’s annual consumer price inflation increased to 3.6% in July, up from 3.2% in June. This figure exceeded the initial 3.5% flash estimate issued on July 30. Consumer prices rose 0.3% from June, surpassing the preliminary monthly forecast of 0.2%. The National Statistics Institute, or INE, confirmed the July data as final, stating it will not be subject to further revision.
Transport was the primary driver of the annual increase, with prices in that sector climbing 6.2% compared to the previous year. This rise was mainly due to higher fuel and lubricant costs for personal vehicles, which increased more sharply than in July 2025. Housing costs also saw a 5.7% annual rise, one percentage point higher than in June, driven by a faster increase in electricity prices compared to the previous year.
Core inflation, which excludes unprocessed food and energy, edged up to 3.0% from 2.9% in June. Spain’s Harmonised Index of Consumer Prices increased by 3.9% over the past year, compared to 3.6% in June. The final harmonised rate also surpassed the preliminary estimate of 3.8%. On a monthly basis, the harmonised index remained stable in July. This measure serves as a standardized metric for comparing inflation across European Union countries.
Fuel and electricity costs boost July prices
In July, transport-related prices rose by 2.3%, making the largest contribution to Spain’s headline CPI for that month. Housing expenses increased by 1.6% due to higher electricity costs and smaller gains in gas and liquid fuels. Additionally, prices for recreation, sport, and culture grew by 2.3%, mainly because of elevated package holiday costs. These increases outweighed declines in other categories within the consumer basket.
Clothing and footwear prices decreased by 10.2% from June, influenced by Spain’s summer sales reducing prices across that segment. Food and non-alcoholic beverage costs fell by 0.7%, driven by lower prices for fruit, nuts, vegetables, pulses, and potatoes. Among Spain’s autonomous communities, Cantabria experienced the highest annual CPI increase at 4.3%, while Extremadura recorded the lowest at 3.0%. The national figure stood at 3.6%.
Spain’s harmonised inflation remains above euro-area rate
Spain’s 3.9% harmonised inflation rate stayed above the euro area’s 2.9% flash estimate for July. Euro-area inflation had been at 2.8% in June before rising slightly in July. Eurostat published the initial July euro-area figure, whereas Spain’s national harmonised rate is final. The harmonised measure provides a common framework for comparing inflation rates across EU nations.
The July data continue a recent upward trend in Spain’s headline CPI, which reached 3.4% in March. It then stood at 3.2% in April, May, and June before increasing again in July. Core inflation moved from 2.8% in April to 3.0% in May, 2.9% in June, and 3.0% in July. The INE calculates the CPI based on roughly 200,000 monthly price observations covering goods and services purchased by households across Spain.