Inflation rates by country and year

-0.5%5.8%12%18.3%24.5%
-0.5%5.8%12%18.3%24.5%
19601.2%
19925.9%
20252.7%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate2.7%

Behind the curve

Turning points in Spain

  1. 1973↑ Upward pressure

    Imported energy shock — Wikipedia (opens in a new tab)

    The oil embargo raised energy and transport costs across Spain. The imported shock landed on an economy already experiencing strong price pressure and carried into the following years.

    INE · Consumer price index series
  2. 1979↑ Upward pressure

    A second energy-price wave — Wikipedia (opens in a new tab)

    The Iranian Revolution and the second oil shock renewed imported inflation. Energy costs fed into transport, production and household prices during Spain’s transition decade.

    INE · Consumer price index series
  3. 2008↓ Downward pressure

    The global financial crisis — Wikipedia (opens in a new tab)

    The global financial crisis weakened demand and activity in Spain. Falling commodity prices and the ensuing recession pulled inflation sharply lower in 2009.

    INE · Consumer price index series
  4. 2020↓ Downward pressure

    Lockdowns and falling demand — Wikipedia (opens in a new tab)

    Lockdowns reduced demand and energy prices fell during the pandemic. The initial shock kept Spain’s annual consumer-price growth close to zero before reopening pressures emerged.

    INE · Consumer price index series
  5. 2022↑ Upward pressure

    Energy, food and the war in Ukraine — Wikipedia (opens in a new tab)

    Energy and food prices rose after the reopening of economies and Russia’s invasion of Ukraine. Spain’s price measures moderated some pass-through, but inflation remained elevated.

    ECB · Annual report 2022

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Spain?

The annual inflation rate in Spain was 2.7% in 2025, the most recent year in the World Bank dataset. That means prices rose 2.7% on average compared with the year before. Use the chart above to explore Spain's full inflation history from 1960 to 2025, and to compare it with any other country.

How inflation in Spain has changed

Inflation in Spain peaked at 24.5% in 1977 and reached its lowest point at -0.5% in 2015. Averaged across the 66 years of available data (1960–2025), the rate has been 6.2% per year.

Frequently asked questions about inflation in Spain

What is the current inflation rate in Spain?

The latest available annual figure is 2.7% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Spain's statistical office.

What was the highest inflation rate in Spain?

The highest annual inflation rate on record is 24.5%, reached in 1977.

What was the lowest inflation rate in Spain?

The lowest annual inflation rate on record is -0.5%, recorded in 2015.

Where does the inflation data for Spain come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.