Spain’s annual inflation decelerated to 8.3 percent in April of 2022 from a near 40-year high of 9.8 percent in March and below preliminary estimates of an 8.4 percent increase. Lower inflationary pressure was mainly due to eased commodity prices following the shock of the war in Ukraine and restored supply chains as Spain's trucker strike lost momentum. Prices rose at a slower rate for housing and utilities (18.8 percent vs 33.1 percent in March) and transportation (12.8 percent vs 18.6 percent). On the other hand, costs accelerated for food and non-alcoholic beverages (10.1 percent vs 6.8 percent), restaurant and hotels (5.8 percent vs 4.4 percent), and leisure and culture (2.9 percent vs 1.2 percent). The annual core rate, which excludes food and energy products rose to 4.4 percent in April, the highest since 1995, from 3.3 percent in March. On a monthly basis, consumer prices fell by 0.2 percent, compared to a 3 percent jump in the previous period. source: National Statistics Institute (INE)
Inflation Rate in Spain averaged 6.46 percent from 1955 until 2022, 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 May of 2022.
Inflation Rate in Spain is expected to be 7.60 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 2.00 percent in 2023 and 1.00 percent in 2024, according to our econometric models.