Inflation fell in Spain in December and 2025 closed at an average of 2.7 per cent
Year-on-year CPI eased in the last month of the year to 2.9 per cent due to lower fuel prices
Inflation fell in Spain in December by one tenth of a percentage point to 2.9 per cent, due to the fall in fuel prices compared with the increase in December 2024, although it is above the European Central Bank's (ECB) recommendation, according to data released on Tuesday 30 December by the National Statistics Institute (INE). On the other hand, food and non-alcoholic beverage prices rose more than in December 2024.
With this decrease of one tenth of a percentage point in the last month of the year, the year-on-year Consumer Price Index (CPI) has now fallen for two consecutive months, after closing October at its highest level in 16 months (3.1%). In 2025, on average, inflation closed the year at 2.7%. "This average rate is one tenth of a percentage point lower than in 2024, allowing families to continue recovering purchasing power," the Ministry of Economy has highlighted.
The estimate for core inflation, which excludes unprocessed food and energy products, remained unchanged at 2.6% in December. If this rate is confirmed, core inflation would remain at its highest level since December 2024, when it also stood at 2.6%. However, the average for this indicator falls to 2.3% in 2025, compared with 2.9% in 2024.
Prices rebound by 0.3%.
In monthly terms (December over November), the CPI rose by 0.3%, one tenth of a percentage point more than in the previous month and the harmonised CPI (HICP) cut its year-on-year rate by two tenths in December to 3%, with a monthly change of 0.3%. Core HICP inflation is estimated at 2.8% for the last month of the year, according to Estadística.
The INE will publish the final CPI data for December on 15 January.
