FX.co ★ Spain Inflation Rate Confirmed at 4-Month Low in December

Spain's annual inflation rate settled at 2.9% in December 2025, marking a four-month low and continuing its decline from November's rate of 3.0%. This deceleration was largely attributed to a reduced pace in price increases for transportation, which dropped to 1.8% from 2.3% in November, and in recreation and culture, which fell to 0.5% from 1.2%. On a European Union harmonised basis, the Consumer Price Index (CPI) recorded a 3% year-on-year increase, consistent with preliminary forecasts, following a 3.2% rise in November. On a monthly scale, the CPI saw a 0.3% climb, up from a 0.2% rise in November. Likewise, the EU harmonised index increased by 0.3%, after remaining unchanged in the prior month, aligning with initial projections.