11 April 2025

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

March 2025

Main results

The annual variation rate of the March CPI stood at 2.3%, seven tenths of a percentage point lower than that recorded in February.
The annual change of core inflation decreased two tenths of a percentage point to 2.0%.
The monthly variation of the general rate was 0.1%.
The annual rate of the Harmonised Consumer Price Index (HICP) stood at 2.2%, seven tenths below that of 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 March was 2.3%, seven tenths lower than that registered the previous month.

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

Housing, whose annual rate decreased more than four points to stand at 5.7%. This decrease was due to lower electricity prices, compared to the increase in March 2024.
Transportation, whose annual variation was -0.9%, 1.2 points lower than that of the previous month. This behaviour was due to prices of fuels and lubricants for personal vehicles, which fell compared to the increase in the same month of 2024.
Leisure and culture, whose annual rate fell by 1.7 points to -0.3%. This drop was due to package tour prices rising less than in March 2024.

The annual variation rate of core inflation (general index excluding unprocessed food and energy products) fell by two tenths compared with February, and stood at 2.0%.

Annual CPI Rate

Overall and core index. Percentage

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Monthly evolution of consumer prices

In March the monthly variation rate of the overall CPI was 0.1%.

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

Hotels, cafés and restaurants, with a variation of 0.9%, because of higher prices for accommodation and restaurant services. The impact of this group to the overall CPI was 0.138.
Clothing and footwear, with a variation of 2.5% on a monthly rate, as a result of the start of the spring-summer season. The impact of this group to the overall CPI was 0.086.

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

Housing, with a rate of -1.6% and an impact of -0.199 due to the decrease in electricity prices.
Transportation, which fell by 0.7% with a repercussion of 0.095, due to the drop in the prices of fuels and lubricants for personal transport.

Results by Autonomous Communities

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

Illes Balears had the highest rate (2.9%) and Región de Murcia and Canarias the lowest (both 1.6%).

Annual CPI rates by Autonomous Community. March 2025

Percentage

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Harmonised Index of Consumer Prices (HICP)

In March, the annual variation rate of the HICP stood at 2.2%, seven tenths lower than that recorded in the previous month.

The monthly variation of the HICP was 0.7%.

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

All press releases at:: www.ine.es/en/prensa/prensa_en.htm
Press office:: (+34) 91 583 93 63 / 94 08 – gprensa@ine.es
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Consumer Price Index (CPI)Harmonised Index of Consumer Prices (HICP)