FX.co ★ Spain’s Core Inflation Holds Steady at 3.1% in October, Signalling Stable Price Pressures

Spain’s core Consumer Price Index (CPI) remained unchanged in October 2026, holding at 3.1% year-over-year, according to data updated on 30 October 2026. The figure matches the September 2026 reading, indicating that underlying price pressures have stabilized on an annual basis.

Core CPI — which excludes volatile components such as food and energy — is closely monitored as a gauge of underlying inflation trends. The fact that October’s rate is identical to September’s suggests that, on a year-over-year comparison, Spain’s core inflation is neither accelerating nor decelerating at present.

For markets and policymakers, the steady 3.1% reading reinforces the picture of a Spanish economy where core price dynamics are currently stable, with October’s change measured against the same month a year earlier under the standard year-over-year comparison methodology.