2026.05.1407:17:50UTC+00Spain Inflation Rate Confirmed at 3.2% in April

Spain’s annual inflation rate eased to 3.2% in April 2026, in line with the flash estimate and down from 3.4% in March, when inflation hit its highest level since June 2024. The slowdown was largely driven by weaker growth in housing and utilities costs (1.9% vs 3.7% in March), mainly reflecting lower electricity prices following the government’s late-March anti-crisis package of 80 measures, which included VAT cuts on fuel and initiatives to reduce electricity bills.

However, transport prices continued to accelerate, rising 6.5% year-on-year compared with 5.3% in March. Core inflation, which excludes volatile components such as food and energy, edged down slightly to 2.8% from 2.9%. In contrast, the EU-harmonised inflation rate picked up to 3.5% from 3.4% in March, marking its highest level since June 2024. On a monthly basis, consumer prices increased by 0.4%, matching the initial estimate but slowing from a 1.2% rise in March.