Spain's annual inflation rate rose to 2.9 percent in July of 2021, from 2.7 percent in the previous month and beat market expectations of 2.5 percent, according to a preliminary estimate. It is expected to be the highest consumer price inflation in the country since February of 2017. Main upward pressures were seen in prices of accommodation services and gas, reflecting low base year effects. The annual core inflation rate, which excludes volatile items such as unprocessed food and energy products, climbed to 0.6 percent in July, from 0.2 percent in the prior month. On a monthly basis, consumer prices are expected to fall 0.7 percent, the steepest decrease since July of 2020, after a 0.5 percent gain in June. source: National Statistics Institute (INE)
Inflation Rate in Spain averaged 6.46 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 August of 2021.
Inflation Rate in Spain is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Inflation Rate is projected to trend around 1.10 percent in 2022 and 1.70 percent in 2023, according to our econometric models.