FX.co ★ Spain's Inflation Indicator Sees Slight Uptick in December 2025

In a modest shift reflecting the changing economic climate, Spain’s Harmonized Index of Consumer Prices (HICP) experienced a slight increase in December 2025. According to the latest data updated on 15 January 2026, the HICP increased to 0.3%, up from 0.0% in the prior month.

The HICP, a crucial economic indicator used to measure consumer price changes within the Eurozone, was previously stagnant in November. This uptick indicates a subtle but notable shift in consumer prices as the country closed out the year. The monthly comparison reveals this change, letting analysts revisit their assessments of Spain's economic trajectory amid broader Eurozone inflation dynamics.

While the 0.3% rise may appear minor, it reflects underlying economic factors that policymakers and economists continue to monitor. The movement hints at shifts in consumer demand or supply-side cost pressures, both critical elements in shaping fiscal strategies for 2026. As this data becomes a focal point, it is essential for businesses, governments, and investors to interpret these figures within the broader context of global economic trends.