Spain’s CPI inflation rates in February were confirmed at 0.4% MoM and 3.0% YoY, the highest annual rate since June 2024.

• Core inflation was 2.2% YoY, down from 2.4% YoY in January but slightly above expectations of 2.1% YoY.
• Hotels & restaurants (+0.7% MoM) and transport (+0.6% MoM) were the segments that made the biggest positive impact.
• Clothing & footwear, down -1.5% MoM, was the segment with the largest negative impact.
• The HICP inflation rates were confirmed at 0.4% MoM and 2.4% YoY.