Inflation rate in Spain
Annual inflation in Spain was 4.9% in September 2026: consumer prices compared with the same month a year earlier. The month before, it was 4.3%.
Inflation by month in Spain
Monthly figures: national statistics compiled by the Bank for International Settlements (consumer prices, change on a year earlier).
Inflation by year in Spain
| Year | Inflation |
|---|---|
| 2025 | 2.7% |
| 2024 | 2.8% |
| 2023 | 3.5% |
| 2022 | 8.4% |
| 2021 | 3.1% |
| 2020 | -0.3% |
| 2019 | 0.7% |
| 2018 | 1.7% |
| 2017 | 2.0% |
| 2016 | -0.2% |
| 2015 | -0.5% |
| 2014 | -0.2% |
| 2013 | 1.4% |
| 2012 | 2.4% |
| 2011 | 3.2% |
| 2010 | 1.8% |
| 2009 | -0.3% |
| 2008 | 4.1% |
| 2007 | 2.8% |
| 2006 | 3.5% |
| 2005 | 3.4% |
| 2004 | 3.0% |
| 2003 | 3.0% |
| 2002 | 3.1% |
| 2001 | 3.6% |
Yearly figures: World Bank, inflation, consumer prices (annual %).
The real interest rate is the central bank’s policy rate minus the latest inflation rate: a plain difference, not a forecast.
Frequently asked questions
What is the inflation rate in Spain?
Annual inflation in Spain was 4.9% in September 2026 (consumer prices compared with a year earlier).
What was the inflation rate in Spain in 2025?
Inflation in Spain was 2.7% in 2025 (World Bank, consumer prices, annual average).
What was the inflation rate in Spain in 2020?
Inflation in Spain was -0.3% in 2020 (World Bank, consumer prices, annual average).
What was the inflation rate in Spain in 2015?
Inflation in Spain was -0.5% in 2015 (World Bank, consumer prices, annual average).
What is the real interest rate in Spain?
The policy rate is 2.50% and inflation 4.9%, so the real interest rate is about -2.4%.
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