Makrognosis

Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado)

MonthlyNot seasonally adjustedCode ES.IPCA.M.NSA

Latest (y/y)5.0%September 2026
Previous (y/y)4.6%August 2026
Level105.4September 2026

Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado) was up 5.0% year on year in September 2026, compared with 4.6% in August 2026.

The level stood at 105.4 (Index).

That is the highest reading since February 2023.

Among the 17 economies Makrognosis covers on this measure, it is the 6th highest.

Over the past ten years it has ranged from −0.9% (Oct 2020) to 10.7% (Jul 2022), averaging 2.7%.

Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado), annual % change, Jan 2012 – Sep 2026−2.5%0.0%2.5%5.0%7.5%10.0%20122014201620182020202220242026Robomacro
Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado), annual % change, Jan 2012 – Sep 2026. Source: INEES.
Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado), level (Index)70809010011020122014201620182020202220242026Robomacro
Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado), level (Index).

Showing the full history (downsampled for display). Open the interactive chart to zoom and switch transforms.

Recent data

PeriodValueY/Y %
September 2026105.45.0
August 2026104.74.6
July 2026104.13.9
June 2026104.13.6
May 2026103.53.6
April 2026103.43.5
March 2026102.63.4
February 2026101.02.5
January 2026100.52.4
December 2025101.33.0
November 2025101.03.2
October 2025101.03.2
September 2025100.43.0
August 2025100.22.7
July 2025100.22.7
June 2025100.52.3
May 202599.812.0
April 202599.842.2
March 202599.222.2
February 202598.542.9
January 202598.152.9
December 202498.302.8
November 202497.872.4
October 202497.841.8

Last 24 observations. The full history (189 observations) is available through the API.

Get Spain National HICP (IPCA / Índice de Precios de Consumo Armonizado) in your code or spreadsheet

One guessable code, agency-direct, updated on release. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/ES.IPCA.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/ES.IPCA.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
Get a free API key → · API docs

About this series

Latest observationSeptember 2026
First observationJanuary 2011
Observations189
FrequencyMonthly
UnitsIndex
AdjustmentNot seasonally adjusted
10-year high10.7% (Jul 2022)
10-year low−0.9% (Oct 2020)
10-year average2.7%
Source agencyINEES
Makrognosis codeES.IPCA.M.NSA

National HICP (IPCA / Índice de Precios de Consumo Armonizado): how Spain compares

#EconomyPeriodLatest
1RomaniaAug 20266.3%
2GreeceOct 20265.7%
3BulgariaSep 20265.6%
4ItalyOct 20265.6%
5CyprusSep 20265.2%
6SpainSep 20265.0%
7LuxembourgOct 20264.9%
8CroatiaSep 20264.3%
9PortugalOct 20263.9%
10SloveniaOct 20263.8%
11FranceOct 20263.8%
12EstoniaOct 20263.6%
13AustriaSep 20263.6%
14NetherlandsOct 20263.3%
15LatviaOct 20263.1%
16MaltaSep 20262.4%
17SwedenOct 20260.6%

National HICP (IPCA / Índice de Precios de Consumo Armonizado) by country: all 17 economies ranked →

Other Spain indicators

Spain GDP (Gross Domestic Product)Spain GDP at market prices, current prices, SA+calendarSpain Inflation Rate (CPI)Spain Core Inflation RateSpain Unemployment RateSpain 10-Year Government Bond YieldSpain Credit Rating & Sovereign Risk ScoreSpain Industrial ProductionSpain Retail SalesSpain Producer Price Inflation (PPI)Spain Current account balance (Banco de Espana balance of payments, BE_17_1.1), EUR millionsSpain Current account balance, % of GDPSpain Trade Balance: Goods & ServicesSpain Exports of goods and services, Current prices, million EURSpain Exports of goods and services, chain-linked volumeSpain Exports of goods, total trade (World), seasonally adjusted

FAQ

What is the current national HICP (IPCA / Índice de Precios de Consumo Armonizado) in Spain?
The latest reading is 5.0% year on year for September 2026, published by INEES.
Where does this data come from?
It is collected directly from INEES and is available through the Makrognosis API under the code ES.IPCA.M.NSA.

Last updated 2026-11-10. Source: INEES. Original title: “Spain HICP (INE IPCA national publication), overall index (Tempus3 IPCA8091; Eurostat HICP remains on ES.CPI.M.NSA)”.