FX.co ★ Spain’s HICP Eases Slightly in October, Underscoring Tame Price Pressures

Spain’s Harmonised Index of Consumer Prices (HICP) edged down in October on a month-over-month basis, signalling marginally softer inflationary pressures. The indicator slipped to 0.5% in October 2026, compared with 0.6% in the previous month-on-month reading, according to data updated on 13 November 2026.

Both the latest and prior readings are measured as month-over-month changes, with the current figure reflecting price developments in October versus September, and the earlier 0.6% print capturing September’s change against August. The slight moderation suggests that while prices continued to rise, the pace of monthly increases decelerated, a detail likely to be closely watched by policymakers and market participants assessing the trajectory of inflation in Spain and across the euro area.