14 March 2025

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

February 2025

Main Results

The annual variation rate of the February CPI stood at 3.0%, one tenth above that registered in January.
The annual change of core inflation decreased two tenths of a percentage point to 2.2%.
The monthly variation of the general rate was 0.4%.
The annual rate of the Harmonised Index of Consumer Prices (HICP) held at 2.9%, the same recorded in the previous month.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results of IPC and IPCA
Videos: What is the Shopping Basket / The IPC
How much the IPC varied since...

The annual rate of the overall Consumer Price Index (CPI) in February was 3.0%, one tenth higher than that registered the previous month.

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

Housing, whose annual rate rose nearly two percentage points to 9.8%. This increase was due to the increase in the price of electricity, compared to the decrease in February 2024.

Meanwhile, among the groups with a negative contribution, the most noteworthy were:

Transportation, whose annual variation was 0.3%, a point lower than that of the previous month. This behaviour was mainly due to prices of fuels and lubricants for personal vehicles, which increased less in February than in the same month in 2024.

The annual variation rate of core inflation (general index excluding unprocessed food and energy products) fell by two tenths compared with January, and stood at 2.2%. This is the lowest rate recorded since December 2021.

Annual CPI Rate

Overall and core index. Percentage

{
    "mode": "chart",
    "type": "lineasprensa",
    "with": "170mm",
    "height": "100mm",
    "legend": true,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Overall index"
        },
        {
            "label": "Core inflation"
        }
    ],
    "ticks": [
        "Jan-24",
        "Feb-24",
        "Mar-24",
        "Apr-24",
        "May-24",
        "Jun-24",
        "Jul-24",
        "Aug-24",
        "Sep-24",
        "Oct-24",
        "Nov-24",
        "Dec-24",
        "Jan-25",
        "Feb-25"
    ],
    "values": [
        [
            3.4,
            2.8,
            3.2,
            3.3,
            3.6,
            3.4,
            2.8,
            2.3,
            1.5,
            1.8,
            2.4,
            2.8,
            2.9,
            3
        ],
        [
            3.6,
            3.5,
            3.3,
            2.9,
            3,
            3,
            2.8,
            2.7,
            2.4,
            2.5,
            2.4,
            2.6,
            2.4,
            2.2
        ]
    ],
    "ratioMargen": 0.05,
    "angleTick": "-90",
    "angleTag": "0",
    "fillToZero": true,
  "colors": [
    "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
  ]
}

Monthly evolution of consumer prices

In February, the monthly variation rate of the general CPI was 0.4%.

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

Hotels, cafés and restaurants, with a variation of 0.7%, resulting from the increase in the prices of restaurants and hospitality services. The impact of this group to the overall CPI was 0.107.
Transportation, with a rate of 0.6%, and a contribution of 0.086, mainly due to rises in the prices of Fuels and lubricants for personal vehicles and Maintenance and repair of personal vehicles.

On the other hand, the only group with a negative monthly contribution was:

Clothing and footwear, with a monthly variation of -1.5%, resulting from the lower prices typical for winter sales campaigns. The impact of this group to the overall CPI was -0.054.

Results by Autonomous Communities

The CPI recorded positive annual rates in all the autonomous communities in February. Illes Balears had the highest rate (3.6%) and Canarias the lowest (2.2%).

Annual CPI rates by Autonomous Community. February 2025

Percentage

{
    "mode": "chart",
    "type": "barrashorizontalesprensa",
    "width": "170mm",
    "height": "150mm",
    "legend": false,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Annual rate (%)"
        }
    ],
    "ticks": [
    "Canarias",
    "Murcia, Región de",
    "La Rioja",
    "Galicia",
    "Extremadura",
    "Castilla-La Mancha",
    "Castilla y León",
    "Cantabria",
    "Aragón",
    "Navarra, Comunidad Foral de",
    "Andalucía",
    "NATIONAL",
    "Melilla",
    "Madrid, Comunidad de",
    "Cataluña",
    "Comunitat Valenciana",
    "Asturias, Principado de",
    "Ceuta",
    "País Vasco",
    "Balears, IIles"
    ],
    "values": [
        [
            "2.2",
      "2.3",
      "2.7",
      "2.7",
      "2.7",
      "2.7",
      "2.8",
      "2.8",
      "2.9",
      "3.0",
      "3.0",
      "3.0",
      "3.1",
      "3.1",
      "3.1",
      "3.2",
      "3.2",
      "3.3",
      "3.3",
      "3.6"
        ]
    ],
    "ratioMargen": 0.05,
    "angleTick": "0",
    "angleTag": "0",
    "fillToZero": true,
    "colors": [
      "#457E76",
      "#A45C0A",
      "#0071AD",
      "#756F0F",
      "#C33C9D",
      "#677746"
    ],
    "config": {
      "marcaTick": {
        "color": "#9e1834",
        "value": "NATIONAL"
      }
    }
  }

Harmonised Index of Consumer Prices (HICP)

In February, the annual variation rate of the HICP stood at 2.9%, the same as that recorded the previous month.

The monthly variation of the HICP was 0.4%.

Tasa anual del IPCA

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

{
    "mode": "chart",
    "type": "lineasprensa",
    "with": "170mm",
    "height": "100mm",
    "legend": true,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Spain"
        },
        {
            "label": "Euro area"
        }
    ],
    "ticks": [
        "Jan-24",
        "Feb-24",
        "Mar-24",
        "Apr-24",
        "May-24",
        "Jun-24",
        "Jul-24",
        "Aug-24",
        "Sep-24",
        "Oct-24",
        "Nov-24",
        "Dec-24",
        "Jan-25",
        "Feb-25"
    ],
    "values": [
        [
            3.5,
            2.9,
            3.3,
            3.4,
            3.8,
            3.6,
            2.9,
            2.4,
            1.7,
            1.8,
            2.4,
            2.8,
            2.9,
            2.9
        ],
        [
            2.8,
            2.6,
            2.4,
            2.4,
            2.6,
            2.5,
            2.6,
            2.2,
            1.7,
            2,
            2.2,
            2.4,
            2.5,
            2.4
        ]
    ],
    "ratioMargen": 0.15,
    "angleTick": "-90",
    "angleTag": "0",
    "fillToZero": true,
    "colors": [
      "#457E76",
      "#A45C0A",
      "#0071AD",
      "#756F0F",
      "#C33C9D",
      "#677746"
    ]
  }

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

All press releases at:: www.ine.es/en/prensa/prensa_en.htm
Press office:: (+34) 91 583 93 63 / 94 08 – gprensa@ine.es
Information area:: (+34) 91 583 91 00 – www.ine.es/infoine/?L=1

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