Spain's annual inflation rose for the second month to a five-month high of 2.7% in July 2025, confirming the preliminary estimate. The main upward pressure came from prices of housing & utilities (6.7% vs 4.2% in June), primarily due to electricity costs, and transportation (0.2% vs -0.8%), of which fuels. Meanwhile, core inflation - which excludes volatile components like food and energy - edged up to a three-month high of 2.3%, as previously estimated, up from June's 2.2%. Considering the EU-harmonised, the CPI rose 2.7% on the year, matching the earlier reading, and fell 0.3% on the month, compared to the earlier estimate of a 0.4% decrease.