Spain’s inflation rate eased slightly in December, falling by one tenth of a percentage point to 2.9%, driven mainly by lower fuel prices compared with the increases recorded in December 2024.
Despite the slowdown, inflation remains above the level recommended by the European Central Bank (ECB), according to provisional figures released on Tuesday by Spain’s National Statistics Institute (INE).
By contrast, prices for food and non-alcoholic beverages rose more sharply than they did in the same month last year.
The December decline marks the second consecutive monthly fall in the year-on-year Consumer Price Index (CPI), after inflation peaked at a 16-month high of 3.1% in October. Over the whole of 2025, average inflation stood at 2.7%.
‘This average rate is one tenth of a percentage point lower than in 2024, allowing families to continue recovering purchasing power,’ the Ministry of Economy said.
Core inflation, which excludes unprocessed food and energy, was unchanged in December at 2.6%.
If confirmed, this would represent its highest level since December 2024, when it also reached 2.6%. On an annual average basis, however, core inflation eased to 2.3% in 2025, down from 2.9% the previous year.
On a month-on-month basis, consumer prices increased by 0.3% in December compared with November, one tenth of a percentage point more than the rise recorded a month earlier.
The INE is scheduled to release the final CPI figures for December on 15 January.
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Indicador adelantado Índice de #precios de consumo #IPC. Diciembre 2025 @es_INE
— INE España (@es_INE) December 30, 2025
El indicador adelantado del #IPC sitúa su variación anual en el 2,9% en diciembre, una décima menos que la registrada en noviembre
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Resultados ➡️… pic.twitter.com/NRCOF25Ui1
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