Spain’s annual inflation rate eased for the second month, falling to a four-month low of 2.9% in December 2025 from 3.0% in November, though slightly above the expected 2.8%, preliminary estimates showed.
The deceleration was largely driven by a decline in fuel and lubricant prices for personal vehicles, in contrast to the increase recorded in December 2024. Additional support came from leisure and culture prices, which rose at a slower pace than a year earlier.
Meanwhile, food and non-alcoholic beverage prices continued to exert upward pressure, increasing more sharply than a year ago.
The core inflation rate, which excludes volatile components like food and energy, stood at a one-year high of 2.6% in December, unchanged from November.
