13 August 2026

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

July 2026

Main results

The annual variation rate of the July CPI stood at 3.6%, four tenths above that registered in June.
The annual rate of core inflation rose one tenth of a percentage point to 3.0%.
The monthly variation of the general rate was 0.3%.
The annual rate of the Harmonised Index of Consumer Prices (HCPI) stood at 3.9%, three tenths higher than in 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 July was 3.6%, four tenths higher than registered the previous month.

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

Transport, whose annual rate increased more than one point to stand at 6.2%. This increase was due mainly to the rise in the prices of fuels and lubricants for personal vehicles, which increased at a higher rate than in July 2025.
Housing, whose annual variation stood at 5.7%, which put it one point higher than in the previous month. This behaviour was mainly due to the increase in the prices of electricity which increased at a higher rate than in the same month of 2025.

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

Annual CPI Rate

Overall and core index. Percentage

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Monthly evolution of consumer prices

In July, the monthly variation rate of the overall CPI was 0.3%.

The groups with the greatest positive impact to the CPI monthly rate were:

Transport, with a monthly rate of 2.3% resulting from the higher prices of fuels and lubricants for personal vehicles. The impact of this group on the overall CPI was 0.365.
Housing, with a monthly variation of 1.6% and an impact of 0.193 due to higher electricity prices and, to a lesser extent, gas and liquid fuels prices.
Recreational, sport and cultural activities, with a rate of 2.3% as a result of the increase in package tours prices. The impact of this group on the overall CPI was 0.168.

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

Clothing and footwear, with a rate of -10.2% and a contribution of -0.345, due to price decreases during the summer sales season.
Food and non-alcoholic beverages, with a rate of -0.7% due to the rise in the prices of fruits and nuts and vegetables, pulses and potatoes. The impact of this group on the overall CPI was -0.115.

Results by autonomous communities

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

Cantabria recorded the highest rate (4.3%) and Extremadura the lowest (3.0%).

Annual CPI rates by Autonomous Community. July 2026

Percentage

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Harmonised Consumer Price Index (HCPI)

In July, the annual variation rate of the HICP stood at 3.9%, three tenths higher than in the previous month.

The monthly variation of the HCPI was 0.0%.

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)