FX.co ★ Spain Retail Trade Falls for 1st Time Since 2022

Retail sales in Spain declined by 0.3% year-on-year in July 2026, following an upwardly revised 0.6% increase in June. This marked the first annual drop since November 2022 and points to a cooling in underlying consumer demand. The weakness was particularly visible in food sales, which fell 0.3% after a 0.3% rise in the previous month.

Non-food sales continued to grow but at a slower pace, with annual growth easing to 2.3% from 3% in June, reflecting a mixed performance among its key categories. Growth in healthcare products decelerated (2% vs 2.9%), while this was partly offset by stronger gains in personal equipment (3.6% vs 1.4%) and household equipment (4.8% vs 2.9%).

On a seasonally adjusted monthly basis, retail trade contracted by 0.9% in July, reversing a 0.3% increase recorded in the previous month.