Spain's annual inflation stood at a five-month high of 2.7% in August 2025, matching July's reading and just below market forecasts of 2.8%. Inflation stability reflected opposing trends, with fuel prices pushing upward by falling less than last August, while food, drinks, and electricity weighed downward, with prices either dropping more sharply or rising more slowly than a year ago. Meanwhile, core inflation - which excludes volatile components like food and energy - ticked up to a four-month high of 2.4% in August, from 2.3% in the month before. Considering the EU-harmonised, the CPI rose by 2.7% on the year, in line with estimates. On a monthly basis, consumer prices were flat, after a 0.1% decrease in July and against market estimates of a 0.1% rise.