CdM | The Consumer Price Index (CPI) stood at 2.9% in the last month of the year, representing a moderation of one tenth of a percentage point in the year-on-year rate thanks to the fall in fuel costs, according to data released on Tuesday by the National Statistics Institute (INE). Inflation thus closed 2025 with an average of 2.7%, one tenth of a percentage point below the previous year.
Specifically, as they explain, the December trend is mainly due to the fall in the prices of fuel and lubricants for personal vehicles, compared to the increase in the same month of 2024. Also, although to a lesser extent, leisure and culture prices rose, but less than in the same month of the previous year.
Meanwhile, food and non-alcoholic beverages had an upward effect, with prices rising more than in December last year.
For its part, the estimated annual rate of change in core inflation, i.e. the general index excluding unprocessed food and energy products, remains at 2.6%. Thus, in 2025, average core inflation stands at 2.3%, compared to 2.9% last year.
As for the Harmonised Index of Consumer Prices (HICP), it fell by two tenths of a percentage point in December to stand at 3%. The estimated annual rate of core HICP inflation stands at 2.8%.
The final inflation figures for December will be published by the INE on 15 January.
