MADRID, SPAIN / RankWire.AI / – According to final official figures, Spain’s annual consumer price inflation increased to 3.6% in July from 3.2% in June. This outcome exceeded the 3.5% preliminary estimate issued on July 30. Consumer prices saw a monthly rise of 0.3%, surpassing the initial estimate of 0.2%. The National Statistics Institute, or INE, confirmed that the July data are definitive and will not be revised further.
Transport was the primary factor driving the annual inflation rate higher, with prices in this sector increasing by 6.2% compared to the previous year. The rise was mainly due to higher costs for fuel and lubricants used in personal vehicles, which grew more rapidly than in July 2025. Housing expenses also climbed 5.7% year-on-year, a one percentage point increase from June, as electricity prices accelerated faster than the previous year.
Core inflation, which excludes volatile unprocessed food and energy products, edged upward to 3.0% from 2.9% in June. Spain’s Harmonised Index of Consumer Prices (HICP) increased by 3.9% from July 2022, compared to 3.6% in June. The final harmonised inflation rate was above the preliminary estimate of 3.8%. On a month-to-month basis, the HICP remained unchanged in July. This measure facilitates cross-country price comparisons within the European Union.
Fuel and electricity costs push prices higher in July
Transport costs rose 2.3% during July, making it the largest positive contributor to Spain’s headline CPI for the month. Housing costs increased by 1.6%, mainly due to higher electricity prices and smaller increases in gas and liquid fuels. The prices for recreation, sport, and culture also climbed by 2.3%, driven by higher package holiday costs. These increases outweighed declines in other areas of the consumer basket.
Clothing and footwear prices dropped 10.2% from June, owing to summer sales that reduced prices across this category. Food and non-alcoholic beverages fell 0.7%, with lower prices for fruit, nuts, vegetables, pulses, and potatoes. Among Spain’s autonomous communities, Cantabria experienced the highest annual CPI rise at 4.3%, while Extremadura recorded the lowest at 3.0%. The national CPI stood at 3.6%.
Spain’s harmonised inflation remains above euro-area levels
Spain’s harmonised inflation rate of 3.9% stayed above the euro area’s preliminary flash estimate of 2.9% for July. In June, euro-area inflation was 2.8% before rising slightly in July. Eurostat published the initial estimate for the eurozone, while Spain’s national harmonised rate is definitive. The harmonised index provides a standardized framework for comparing inflation across EU nations.
The July data continues a recent upward trend in Spain’s headline CPI, which reached 3.4% in March. After dropping to 3.2% in April, May, and June, it increased again in July. Core inflation shifted from 2.8% in April to 3.0% in May, then slightly decreased to 2.9% in June before rising back to 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.