Espagne Taux d'inflation

Spain's annual inflation rate rose for the fourth straight month to 3% in January 2025, marking its highest level since last June and exceeding market estimates of 2.9%, preliminary estimates showed. The continued acceleration in inflation was primarily driven by rising fuel prices, in stark contrast to their decline in January 2024. Additionally, though to a lesser extent, higher electricity costs contributed, increasing more than in the same period last year. Meanwhile, leisure and culture had a weaker influence, with prices falling more significantly than in January 2024. The core rate, excluding volatile items like food and energy, slowed to 2.4%, down from a four-month high of 2.6% in December. Monthly, the CPI increased by 0.2%, following a 0.5% rise in December and slightly above market estimates of no change. Meanwhile, the EU-harmonized CPI rose by 2.9% year-on-year, above forecasts of 2.8%; and fell by 0.1% over a month, compared with estimates of a 0.3% drop.