2026.05.1407:00:00UTC+00Spain’s Inflation Momentum Cools Sharply as April CPI Growth Slows to 0.4% MoM

Spain’s consumer price growth decelerated markedly in April, with the month-over-month Consumer Price Index (CPI) rising by just 0.4%, down from a 1.2% increase in the previous monthly comparison. The latest data, updated on 14 May 2026, highlights a significant cooling in short-term inflation momentum.

Both the prior and current readings relate to April 2026, but measure different monthly changes: the “previous” 1.2% figure reflects the increase recorded in the earlier month-over-month period, while the “actual” 0.4% captures the most recent monthly change. The sharp moderation suggests that price pressures are easing on a sequential basis, which could influence expectations around consumer purchasing power and the trajectory of monetary conditions in Spain.

For markets and policymakers, the slowdown from 1.2% to 0.4% on a month-over-month basis will be closely watched as an early signal of whether inflationary pressures are stabilizing after a period of stronger month-to-month gains.