12 December 2025

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

November 2025

Main results

The annual variation rate of the November CPI stood at 3.0%, one tenth below that recorded in October.
The annual rate of core inflation rose one tenth of a percentage point to 2.6%.
The monthly variation of the general rate was 0.2%.
The annual rate of the Harmonised Index of Consumer Prices (HICP) stood at 3.2%, same as the previous month's.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results of CPI and HICP
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 November was 3.0%, one tenth lower than that registered the previous month.

The groups which most influenced this decrease in the annual rate were:

Housing, whose annual rate decreased 1.8 points to stand at 5.7%. This decrease was due to lower electricity prices, compared to the increase in November 2024.

Among the groups with a positive contribution, the most noteworthy were:

Entertainment and culture, whose annual variation stood at 1.2%, was one point higher than in the previous month. This behaviour is mainly due to package tour prices falling less than they did in the previous November.
Food and non-alcoholic beverages, whose annual rate rose by four tenths of to 2.8%. This was mainly due to higher prices for oils and fats, which fell in November 2024, and higher prices for milk, cheese and eggs, which rose more than in the same month of the previous year.

The annual variation rate of core inflation (the overall index excluding unprocessed food and energy products) stood at 2.6%, 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 November, the monthly variation rate of the general CPI was 0.2%.

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

Clothing and footwear, which showed a variation of 4.0%. This included the behaviour of prices at the beginning of the winter season. The impact of this group to the overall CPI was 0.149.

Transportation, standing at 0.5% with a repercussion of 0.071, due to the rise in the prices of fuels and lubricants for personal transport.
Food and non-alcoholic beverages, whose monthly rate of 0.3% contributed 0.060 to the general CPI. This change was due to higher prices for milk, cheese and eggs and meat.

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

Hotels, cafés and restaurants, with a variation of -0.5%, due to lower prices for accommodation services. The impact of this group to the overall CPI was -0.077.

Results by Autonomous Community

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

Comunidad de Madrid had the highest rate (3.7%) and Canarias the lowest (2.3%).

Annual CPI rates by Autonomous Community. November 2025

Percentage

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Harmonised Index of Consumer Prices (HICP)

In November, the annual variation rate of the HICP stood at 3.2%, the same as that recorded the previous month.

The monthly variation of the HICP was 0.0%.

Annual HICP rate

General index. Percentage (the latest Monetary Union figure is progress)

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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:: 2021 (CPI) and 2015 (HICP).
Reference period for the weightings:: year prior to the present year.
Sample of municipalities:: 177.
Number of products:: 462 (CPI) and 461 (HICP), for traditional collection, and 737 for scanner data.
Number of observations:: approximately 210,000 monthly prices.
Functional classification:: ECOICOP.
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)