FX.co ★ Spain’s HICP Inflation Accelerates to 3.4% YoY in March, Up from 2.5%

Spain’s Harmonised Index of Consumer Prices (HICP) rose to 3.4% year-over-year in March 2026, marking a notable acceleration from the previous reading of 2.5%. The data, updated on 14 April 2026, show that price pressures are picking up pace compared with the same month a year earlier.

The current March figure represents a stronger annual increase than the prior indicator, which also measured year-over-year price changes. While the previous reading reflected a 2.5% rise versus March of the prior year, the latest 3.4% print suggests that inflationary dynamics have intensified, potentially renewing attention from policymakers and markets to Spain’s price stability outlook.