FX.co ★ Spain’s HICP Inflation Jumps to 1.7% in March, Up from 0.4%

Spain’s Harmonised Index of Consumer Prices (HICP) recorded a sharp month‑over‑month acceleration in March 2026, with the indicator rising to 1.7%, up from 0.4% in the previous period.

Both the previous and current readings are referenced to March 2026, but the comparison is month‑over‑month: the earlier 0.4% figure captures the change from January to February, while the latest 1.7% reflects the change from February to March. The data, updated on 14 April 2026, indicate a notable pickup in inflationary momentum over the latest month.

The move suggests that price pressures in Spain strengthened markedly into March, a development that will be closely watched by investors and policymakers assessing the trajectory of inflation across the euro area.