12 June 2026

Consumer Price Index (CPI)
Harmonised Index of Consumer Prices (HICP)

May 2026

Main results

The annual rate of variation of the CPI for the month of May stood at 3.2%, the same as that recorded in April.
The annual rate of core inflation rose two tenths of a percentage point to 3.0%.
The monthly variation of the general rate was 0.1%.
The annual rate of the Harmonised Consumer Price Index (HCPI) stood at 3.6%, one tenth higher than that of the previous month.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results of CPI and HICP
Main features of the CPI Base 2025
Videos: What is the shopping basket / The CPI
How much has the CPI varied since...

The annual rate of the overall Consumer Price Index (CPI) in May was 3.2%, the same as that recorded the previous month.

The groups that stood out most in terms of their positive influence in the annual rate were:

Recreational activities, sport and culture, with an annual rate of 2.6%, almost two points above that of the previous month. This behaviour was mainly due to package tour prices falling less than they did in May 2025.
Transport, whose annual variation increased by almost one point to 7.4%. This increase was primarily due to the rise in prices for the transport of passengers by air, compared with the decrease in the same month of the previous year.

Notable among the groups with a negative contribution were:

Clothing and footwear, with an annual rate of -1.1%, two and a half points below that of the previous month. This decline was the result of the drop in the prices of items of clothing, which rose in May 2025.
Food and non-alcoholic beverages, whose annual variation stood at 2.2%, four tenths below the rate of the previous month. This behaviour was influenced by the evolution of the prices of fruits and nuts, which rose less than in May 2025, and the prices of vegetables, legumes and potatoes, which fell more than in the month of May of the previous year.

The annual variation rate of core inflation (the overall index excluding unprocessed food and energy products) stood at 3.0%, two tenths higher than in the previous month.

Annual CPI Rate

Overall and core index. Percentage

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Monthly evolution of consumer prices

In May, the monthly variation rate of the overall CPI was 0.1%.

The group with the greatest positive impact on the monthly CPI rate was:

Restaurants and accommodation services, with a variation of 0.6%, as a result of the increases in the prices of accommodation services, restaurants, cafés, fast food establishments and so on. The impact of this group on the overall CPI was 0.106.

On the other hand, among the groups with a negative monthly impact, the following stood out:

Transport, with a rate of -0.2% resulting from the lower prices of fuels and lubricants for personal vehicles. The impact of this group on the overall CPI was -0.026.
Recreational activities, sport and culture, with a monthly variation of -0.3% and an impact of -0.023, due to the lower prices of package tours.

Results by Autonomous Community

The CPI recorded positive annual rates in all autonomous communities in May.

Comunidad de Madrid recorded the highest rate (3.8%) and Extremadura the lowest (2.5%).

Annual CPI rates by Autonomous Community. May 2026

Percentage

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Harmonised Consumer Price Index (HCPI)

In May, the annual rate of variation of the HCPI stood at 3.6%, one tenth higher than in the previous month.

The monthly variation of the HCPI was 0.1%.

Annual HCPI rate

General index. Percentage (the latest Monetary Union figure is a preliminary one)

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Data revisions and updates

The data published today is final and is not subject to further revision. All the results are available on INEBase.

Methodological note

The Consumer Price Index (CPI) is a short-term indicator that measures the evolution of the prices of consumer goods and services acquired by households resident in Spain.

On the other hand, the Harmonized Index of Consumer Prices (HICP) is an indicator whose objective is to provide a common inflation measure that allows international comparisons.

Type of survey:: continuous monthly survey.
Base period:: 2025 (CPI) and 2025 (HICP).
Reference period for the weightings:: year prior to the present year.
Sample of municipalities:: 177.
Number of products:: 487 for traditional collection, and 263 for scanner data. (CPI and HICP).
Number of observations:: approximately 200,000 monthly prices.
Functional classification:: ECOICOP version 2.
General calculation method:: Laspeyres’ Chain Index.
Collection method:: interviewing agents in establishments, scanner data and centralised collection for special items.

For more information you can access the methodology and the standardised methodological report at (IPC and IPCA).

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information on Quality at INE and Code of Best Practices.

For further information see

Official INE account on @es_ine

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Consumer Price Index (CPI)Harmonised Index of Consumer Prices (HICP)