Spain’s Harmonised Index of Consumer Prices (HICP) moved back into positive territory in August, posting a 0.7% month-on-month increase after showing no change in the previous period. The latest reading, updated on 15 September 2026, marks a clear acceleration from the 0.0% month-on-month rate recorded in August 2026 when compared with the prior month.
The data, based on a month-on-month comparison, indicate that price momentum in Spain has strengthened compared with the previous period, when consumer prices were effectively flat. The shift from 0.0% to 0.7% suggests a renewed build-up of short-term inflationary pressure within the Spanish economy as captured by the harmonised measure used across the euro area.
