Spain’s core consumer price index (CPI) slowed modestly in April 2026, with year-over-year growth easing to 2.8%, down from 2.9% in March 2026. The latest data, updated on 29 April 2026, indicate a continued gradual cooling in underlying inflation pressures when compared with the same month a year earlier.
The core CPI, which excludes volatile items such as food and energy, is closely watched as a gauge of persistent price dynamics. April’s reading suggests that while inflationary pressures remain present, they are easing incrementally, potentially offering policymakers and markets cautious reassurance that underlying price growth is trending lower on an annual basis.
The comparison is made on a year-over-year basis, meaning April’s figure reflects how prices have changed since April of the previous year, while March’s figure captured the change versus March a year earlier. The slight decline from 2.9% to 2.8% underscores a continuation of this gradual disinflation pattern in Spain’s core prices.