Spain’s annual inflation rate stood at a seven-month low of 2.3% in February 2026, matching the preliminary estimate and unchanged from January. Slower price growth in housing and utilities (1.9% vs 2.7% in January), on account of electricity prices (0.3% vs 3.7%), helped offset upward pressure from food and non-alcoholic beverages (3.2% vs 3%), restaurants and hotels (4.8% vs 4.5%), and transportation (0.1% vs -0.1%). The core inflation rate, which excludes volatile components like food and energy, inched up to 2.7% in February, the highest since August 2024, from 2.6% previously. Considering the EU-harmonised, the CPI rose by 2.5% on the year, after a 2.4% increase in January, in line with the earlier estimate. Monthly, the CPI rose by 0.4% after a 0.4% decrease in January; and the EU-harmonised index went up by 0.4%, following a previous 0.8% decline, both matching preliminary estimates.