Published by Global Banking & Finance Review®
Posted on February 13, 2026
2 min readLast updated: February 13, 2026
Add as preferred source on GoogleSpain's EU-harmonised inflation fell to 2.4% in January 2025, driven by lower energy costs, while core inflation remained steady.
Feb 13 (Reuters) - Spain's European Union-harmonised 12-month inflation rate fell to 2.4% in January, down from 3.0% in the period through December, final data released by the National Statistics Institute (INE) showed on Friday.
The INE's final data was slightly below the 2.5% forecast in both the flash reading released two weeks ago and the average estimate from analysts polled by Reuters.
Core inflation, which strips out volatile fresh food and energy prices, stood at 2.6% in the 12 months through January, unchanged from the period through December, the INE said.
Spanish national consumer prices also rose 2.3% in the 12 months through January, down from a 2.9% increase in the period through December, and slightly below the 2.4% rate initially measured by the INE two weeks ago.
It was the largest year-on-year drop in inflation since March 2025 and was mainly due to energy costs, Spain's Economy Ministry said in a statement.
Households' purchasing power improved by 1.5% during 2025 as wage increases outpaced inflation, it added.
(Reporting by Marta Serafinko and Paolo Laudani in Gdansk, editing by Emma Pinedo and Charlie Devereux)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power.
Core inflation measures the long-term trend in prices by excluding volatile items such as food and energy.
Purchasing power refers to the amount of goods and services that can be bought with a unit of currency.
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