13 August 2025

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

July 2025

Main results

The annual variation rate of the July CPI stood at 2.7%, four tenths above that registered in June.
The annual rate of core inflation rose one tenth of a percentage point to 2.3%.
The monthly variation of the general rate was -0.1%.
The annual rate of the Harmonised Index of Consumer Prices (HICP) was 2.7%, four tenths of a percentage point higher than 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 July was 2.7%, four tenths higher than that registered in the previous month.

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

Housing, whose annual rate rose by 2.5 points to 6.7%, due to the increase in electricity prices, compared with the fall in July of the previous year.
Transport, whose annual rate increased by one percentage point to 0.2%. This behaviour was due mainly to the rise in the prices of fuels and lubricants for personal vehicles, a greater one than in July 2024. The rise in combined passenger transport and passenger air transport, set against the stability in the previous year, also had an influence.

The annual variation rate of core inflation (the overall index excluding unprocessed food and energy products) stood at 2.3%, a figure one tenth higher than in the previous month.

Annual CPI Rate

Overall and core index. Percentage

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      "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",
      "2.3",
      "2.2",
      "2",
      "2.3",
      "2.7"
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      "3.6",
      "3.5",
      "3.3",
      "2.9",
      "3",
      "3",
      "2.8",
      "2.7",
      "2.4",
      "2.5",
      "2.4",
      "2.6",
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Monthly evolution of consumer prices

In July, the monthly variation rate of the overall CPI was -0.1%.

The group with the greatest positive monthly impact on the CPI monthly rate was:

Clothing and footwear, with a rate of -9.2% and a contribution of -0.351, due to price decreases during the summer sales season.

On the other hand, noteworthy amongst the groups with a positive monthly effect were:

Transport, which displayed a 1.3% variation and a contribution of 0.179, due to the rise in the prices of fuels and lubricants for personal vehicles and, to a lesser extent, passenger air transport.
Leisure and culture, with a variation of 1.7%, resulting from rising prices in Package Tours. The impact of this group to the overall CPI was 0.142.

Results by Autonomous Community

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

Illes Balears had the highest rate (3.5%) and Región de Murcia the lowest (2.0%).

Annual CPI rates by Autonomous Community. July 2025

Percentage

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      "2.0",
      "2.2",
      "2.3",
      "2.3",
      "2.3",
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      "2.6",
      "2.6",
      "2.7",
      "2.7",
      "2.7",
      "2.7",
      "2.9",
      "2.9",
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      "3.1",
      "3.2",
      "3.2",
      "3.4",
      "3.5"
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Harmonised Index of Consumer Prices (HICP)

In July, the annual variation rate of the HICP stood at 2.7%, four tenths of a percentage point higher than in the previous month.

The monthly variation of the HICP was -0.3%.

Annual HICP rate

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

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      "3.5",
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      "2.4",
      "1.7",
      "1.8",
      "2.4",
      "2.8",
      "2.9",
      "2.9",
      "2.2",
      "2.2",
      "2",
      "2.3",
      "2.7"
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    [
      "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",
      "2.3",
      "2.2",
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      "2"
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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
Information area:: (+34) 91 583 91 00 – www.ine.es/infoine/?L=1

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