The rise in gas and electricity prices has been offset by a moderation in fuel prices following the government’s VAT cut, introduced after the outbreak of the conflict between the United States and Iran – a measure that will remain in force until tomorrow.
Reported by Consejeros Editorial Team
Prices held steady in June, with inflation once again standing at 3.2% for the third consecutive month, according to preliminary data from the National Statistics Institute (INE).
In detail, this trend in the Consumer Price Index (CPI) is characterised by the upward pressure from electricity and gas, whose prices are rising more sharply than in June 2025. Conversely, fuel and lubricants for private vehicles are exerting downward pressure, with prices falling compared with the rise seen in June last year.
As for the core inflation rate – that is, the overall index excluding unprocessed food and energy products –it fell by one tenth of a percentage point to 2.9%.
Meanwhile, the Harmonised Index of Consumer Prices (HICP) also remains stable at 3.6%, and the estimated annual rate of core inflation for the HICP stands at 3.3%.
The Ministry of Economy, Trade and Enterprise has emphasised that “the pressure on fuel prices caused by the war in Iran is beginning to ease, whilst the Government maintains its support for families and the sectors most affected” through a response plan that “is fulfilling its main objective: to cushion the impact of the war in Iran on inflation and protect households’ purchasing power”.
“Spain’s commitment to green energy and energy sovereignty is precisely what is enabling us to gradually scale back emergency measures from a position of strength,” added the department headed by Carlos Cuerpo, assuring that the “gradual dissipation” of uncertainty allows for “measures to be adapted and calibrated gradually, without withdrawing protection from those who need it most”.
The final inflation figures for June will be published by the INE on 15 July.
