15 January 2025

Consumer Price Index (CPI)
Harmonised Index of Consumer Prices (HICP)

December 2024

Main results

The annual variation rate of the December CPI stood at 2.8%, four tenths of a percentage point higher than that recorded in November.
The annual core inflation rate increased two tenths of a percentage point to 2.6%.
The monthly variation of the general rate was 0.5%.
The annual rate of the Harmonised Index of Consumer Prices (HICP) was 2.8%, four tenths of a percentage point higher than in the previous month.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results of IPC and IPCA
Videos: What is the Shopping Basket / The IPC
How much the IPC varied since...

The annual rate of the overall Consumer Price Index (CPI) in December was 2.8%, four tenths higher than that registered the previous month.

The groups that stood out most in terms of their influence on the increase in the annual rate were:

Transportation, whose annual rate increased 1.6 points of a percentage point to 0.6%. This situation was due to higher prices for fuels and lubricants used in personal vehicles, compared with the falling prices in December 2023.
Leisure and culture, whose annual variation stood at 3.2%, was 1.2 points higher than in the previous month. This increase was mainly due to higher package tour price increases than in the same month of 2023.

The annual variation rate of core inflation (general index excluding unprocessed food and energy products) increased by two tenths of a percentage point with respect to November, and stood at 2.6%.

Annual CPI Rate

Overall and core index. Percentage

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        [
            5.9,
            6,
            3.3,
            4.1,
            3.2,
            1.9,
            2.3,
            2.6,
            3.5,
            3.5,
            3.2,
            3.1,
            3.4,
            2.8,
            3.2,
            3.3,
            3.6,
            3.4,
            2.8,
            2.3,
            1.5,
            1.8,
            2.4,
            2.8
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            7.5,
            7.6,
            7.5,
            6.6,
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            5.2,
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            2.4,
            2.5,
            2.4,
            2.6
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Monthly evolution of consumer prices

In December, the monthly variation rate of the general CPI was 0.5%.

The groups with the greatest positive monthly impact to the CPI monthly rate were:

Leisure and culture, which showed a variation of 3.5%, due to the increase in package tour prices. The impact of this group to the overall CPI was 0.294.
Housing, with a rate of 0.6% and an impact of 0.071 due to the rise in electricity prices.
Transportation, with a variation of 0.4%, due to higher prices of fuel and lubricants for personal vehicles. The impact of this group to the overall CPI was 0.054.

Results by Autonomous Communities

The CPI recorded positive annual rates in all the autonomous communities in December. País Vasco had the highest rate (3.6%) and Canarias the lowest (2.2%).

Annual CPI rates by Autonomous Community. December 2024

Percentage

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    "Castilla-La Mancha",
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    "Andalucía",
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    "Cataluña",
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    "Aragón",
    
    "Balears, IIles",
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      "2.6",
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      "2.7",
      "2.7",
      "2.8",
      "2.8",
      "2.8",
      "2.8",
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      "3.1",
      "3.1",
      "3.4",
      "3.6"
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Harmonised Index of Consumer Prices (HICP)

In December, the annual variation rate of the HICP stood at 2.8%, four tenths of a percentage point higher than in the previous month.

The monthly variation of the HICP was 0.4%.

Annual HICP rate

General index. Percentage (the latest Monetary Union figure is progress)

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        "Sep-24",
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            5.9,
            6,
            3.1,
            3.8,
            2.9,
            1.6,
            2.1,
            2.4,
            3.3,
            3.5,
            3.3,
            3.3,
            3.5,
            2.9,
            3.3,
            3.4,
            3.8,
            3.6,
            2.9,
            2.4,
            1.7,
            1.8,
            2.4,
            2.8
        ],
        [
            8.6,
            8.5,
            6.9,
            7,
            6.1,
            5.5,
            5.3,
            5.2,
            4.3,
            2.9,
            2.4,
            2.9,
            2.8,
            2.6,
            2.4,
            2.4,
            2.6,
            2.5,
            2.6,
            2.2,
            1.7,
            2,
            2.2,
            2.4
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Data revisions and updates

The data published today is final and is not subject to further revision. All the results are available on INEBase.

Methodological note

The Consumer Price Index (CPI) is a short-term indicator that measures the evolution of the prices of consumer goods and services acquired by households resident in Spain.

On the other hand, the Harmonized Index of Consumer Prices (HICP) is an indicator whose objective is to provide a common inflation measure that allows international comparisons.

Type of survey:: continuous monthly survey.
Base period:: 2021 (CPI) and 2015 (HICP).
Reference period for the weightings:: year prior to the present year.
Sample of municipalities:: 177.
Number of products:: 462 (CPI) and 461 (HICP), for traditional collection, and 493 for scanner data.
Number of observations:: approximately 210,000 monthly prices.
Functional classification:: ECOICOP.
General calculation method:: Laspeyres’ Chain Index.
Collection method:: interviewing agents in establishments, scanner data and centralised collection for special items.

For more information you can access the methodology and the standardised methodological report at (IPC and IPCA).

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information on Quality at INE and Code of Best Practices.

For further information see

Official INE account on @es_ine

All press releases at:: www.ine.es/en/prensa/prensa_en.htm
Press office:: (+34) 91 583 93 63 / 94 08 – gprensa@ine.es
Information area:: (+34) 91 583 91 00 – www.ine.es/infoine/?L=1

Consumer Price Index (CPI)Harmonised Index of Consumer Prices (HICP)