2026.05.1407:00:00UTC+00Spain’s Harmonised Inflation Edges Up to 3.5% in April, Extending Upward Drift

Spain’s Harmonised Index of Consumer Prices (HICP) inched higher in April, with the year-over-year rate rising to 3.5%, up from 3.4% previously. The latest figure, updated on 14 May 2026, confirms a modest acceleration in price growth when comparing April 2026 to the same month a year earlier.

The previous reading, also based on a year-over-year comparison, showed a 3.4% increase, indicating that price pressures in Spain have continued to firm rather than ease. The HICP, which is harmonised across EU member states for comparability, serves as a key gauge for European Central Bank policymakers monitoring inflation dynamics across the euro area.

While the uptick from 3.4% to 3.5% is slight, it underscores that inflation in Spain remains above the low-inflation environment seen in earlier years, and may factor into broader market expectations about the trajectory of monetary policy within the eurozone.