2026.09.1507:00:00UTC+00Spain’s HICP Inflation Edges Up to 4.6% in August 2026

Spain’s Harmonised Index of Consumer Prices (HICP) ticked slightly higher in August 2026, with the year-over-year rate reaching 4.6%, up from 4.5% previously. The data, updated on 15 September 2026, indicate a marginal acceleration in inflation compared with the same month a year earlier.

The comparison is made on a year-over-year basis, meaning August 2026 prices are measured against those of August 2025, while the previous 4.5% reading captured the change in the prior month versus its level a year earlier. The small increase suggests that inflationary pressures in Spain remain persistent, with price growth still running at an elevated pace despite the modest month-to-month shift in the headline rate.

For policymakers and market participants, the move from 4.5% to 4.6% will likely reinforce attention on underlying drivers of inflation in Spain and across the euro area, as the HICP is the key benchmark used for cross-country comparison within the European Union.