15 January 2026

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

December 2025

Main results

The annual variation rate of the CPI for the month of December stood at 2.9%, one tenth below that recorded in November.
The annual rate of core inflation remained unchanged at 2.6%.
The monthly variation of the general rate was 0.3%.
The annual rate of the Harmonised Consumer Price Index (HICP) stood at 3.0%, two tenths below that of the previous month.
This is the last index published based on 2021. With the CPI of January 2026, the new 2025 base will be implemented.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results of CPI and HICP
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 December was 2.9%, one tenth 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:

Transport, whose annual rate fell by half a point to 1.8%. This decrease was due to lower prices for fuels and lubricants for private vehicles, compared with the increase in December 2024.
Leisure and culture, which recorded an annual variation of 0.5%, seven tenths below last month¿s figure. This behaviour was due to the prices of touristic packages, which rose less than in December of the previous year, and to prices of recreational and sports services, which fell while they had increased in the same month of 2024.

Among the groups with a positive contribution, the most noteworthy was:

Food and non-alcoholic beverages, whose annual rate rose by two tenths of to 3.0%. This behaviour was mainly due to the rise in prices of legumes and vegetables, as well as oils and fats, compared with the decrease in December 2024.

The annual variation rate of core inflation (general index excluding unprocessed food and energy products) stood at 2.6%, the same as the previous month.

Annual CPI Rate

Overall and core index. Percentage

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Monthly evolution of consumer prices

In December, the monthly variation rate of the general CPI was 0.3%.

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

Leisure and culture, which showed a variation of 2.8%, due to the increase in package tour prices. The impact of this group to the overall CPI was 0.229.
Housing, with a rate of 0.6% and an impact of 0.071 due to higher electricity prices.

Results by Autonomous Community

The CPI recorded positive annual rates in all the autonomous communities in December.

Comunidad de Madrid recorded the highest rate (3.7%), while Region de Murcia had the lowest (2.4%).

Annual CPI rates by Autonomous Community. December 2025

Percentage

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Harmonised Index of Consumer Prices (HICP)

In December the annual variation rate of the HICP stood at 3.0%, two tenths lower than that recorded 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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New CPI base

The CPI for December 2025 is the last to be calculated using the 2021 base. With the publication of the preliminary index for January 2026, the new 2025 base will be implemented.

In this way, the base change is brought forward by one year, which is usually carried out every five years, in order to imple

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)