14 April 2026

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

March 2026

Main results

The annual variation rate of the March CPI stood at 3.4%, over a point higher than that recorded in February.
The annual rate of core inflation rose two tenths of a percentage point to 2.9%.
The monthly variation of the general rate was 1.2%.
The annual rate of the Harmonised Index of Consumer Prices (HCPI) stood at 3.4%, nine tenths higher than in the previous month.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results of CPI and HICP
Main features of the IPC Base 2025
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 March was 3.4%, more than one point above that registered the previous month.

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

Transport, whose annual rate increased more than four points to stand at 5.3%. This increase was due to higher prices for fuels and lubricants for private vehicles, compared with the decrease in the previous March.
Housing, whose annual variation stood at 3.7%, which put it nearly two higher than in the previous month. This behaviour was due to electricity prices, which decreased less than in March 2025, and those of liquid fuels, which went up, having gone down the previous year.
Clothes and footwear, with an annual rate of 2.6%, over three and a half points above that of the previous month. This increase is explained by the fact that prices rose more than the previous March, due to the start of the spring-summer season.

The annual variation rate of core inflation (the overall index excluding unprocessed food and energy products) stood at 2.9%, two tenths higher than the previous month’s rate.

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 1.2%.

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

Transportation, with a rate of 4.5% due mainly to the increase in the prices of fuels and lubricants for personal vehicles. The impact of this group on the overall CPI was 0.691.

Clothing and footwear, with a monthly rate of 6.5%, reflecting the behaviour of prices of the new spring-summer season. The impact of this group on the overall CPI was 0.201.
Restaurants and accommodation services, with a variation of 0.8% due to the increase in prices both in restaurants, cafés, fast food and similar establishments, as in accommodation services. The impact of this group on the overall CPI was 0.145.

Results by Autonomous Community

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

Comunidad de Madrid had the highest rate (4.1%), while Principado de Asturias, Canarias and La Rioja had the lowest (3.0%).

Annual CPI rates by Autonomous Community. March 2026

Percentage

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Harmonised Index of Consumer Prices (HICPs)

In March the annual variation rate of the HICP stood at 3.4%, nine tenths higher than in the previous month.

The monthly variation of the HICP was 1.7%.

Annual HCPI rate

General index. Percentage (the latest Monetary Union figure is a preliminary one)

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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:: 2025 (CPI) and 2025 (HICP).
Reference period for the weightings:: year prior to the present year.
Sample of municipalities:: 177.
Number of products:: 487 for traditional collection, and 263 for scanner data. (CPI and HICP).
Number of observations:: approximately 200,000 monthly prices.
Functional classification:: ECOICOP version 2.
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)