Spain’s inflation rate for October confirmed at 4.9%

Spain’s annual inflation rate for October 2026 was confirmed at 4.9%, unchanged from September and still at its highest level since February 2023. The upward pressure mainly stemmed from leisure and culture prices (4.1%, compared with 3.6% in September), driven by rising package holiday costs; and from housing and utilities prices (7.6%, compared with 7.2% in September), influenced by increases in natural gas prices. Transportation prices remained elevated but eased slightly (10.3%, versus 10.5% in September). Meanwhile, the core inflation rate, excluding unprocessed foods and energy products, stood at 3.1%, unchanged from September and the highest since March 2024. On a monthly basis, the CPI rose by 0.6% after a 0.3% increase in September, consistent with the preliminary estimate. The EU-harmonised CPI was up by 4.9% year-on-year and 0.5% month-on-month, lower than last month’s readings of 5% and 0.6%, and in line with the preliminary data.