Spain's Annual Inflation Reaches 5% Amid Rising Fuel and Travel Costs
Spain: Spain's annual inflation rate reached 5.0% in September 2026, its highest level since February 2023, according to data released by the National Statistics Institute (INE) on 14 October. The European Union-harmonised consumer price index recorded a 5.0% year-on-year increase, driven by rising fuel and air travel costs. The figure was consistent with the preliminary estimate and forecasts from economists surveyed by Reuters. Core inflation, which excludes energy and fresh food prices, stood at 3.1% year-on-year, reflecting price increases across consumer goods and services beyond energy-related categories.
Under Spain's national consumer price index, consumer prices increased by 4.9% year-on-year in September 2026, indicating inflationary pressures across the economy. The figures follow a period of elevated inflation associated with the COVID-19 pandemic and the Russia-Ukraine conflict, which contributed to increases in energy, transport and consumer prices in previous years. Spain's inflation has remained above the European Central Bank's 2% target for much of the subsequent period, with the September readings reflecting the continued influence of energy and service costs on annual consumer price movements.
Source: Reuters
