Spain: Inflation Surges to 4.3%

inflation board

Prices in Spain rose by 4.3% in August compared to the same month in 2025, driven by rising fuel costs—a jump seven-tenths higher than July’s figure (3.6%) and the highest rate since February 2023.

Spain’s National Statistics Institute (INE) published this Friday the advance Consumer Price Index (CPI) data for the month, which was shaped by price hikes in fuels and lubricants for personal vehicles, products that had dropped in price in August 2025.

To a lesser extent, the food and non-alcoholic beverages group also contributed, declining less in August than it did during the same month last year, although the INE will not release detailed figures until September 15.

The preliminary August figure points to an acceleration of inflation, which had already risen by four-tenths in July to 3.6%, driven by higher energy prices due to both the ongoing conflict in the Middle East and the initial phase-out of fiscal support measures.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.