Spain’s CPI rose 0.6% MoM and 2.2% YoY in June, up from 2.0% YoY in May, driven primarily by fuel and food prices.

• Core inflation held steady at 2.2% YoY, matching the headline rate.
• HICP inflation was 0.6% MoM and 2.2% YoY, up from 2.0% YoY.
• The pickup in annual inflation reflects a rebound in fuel prices versus a decline in June 2024, and stronger food and beverage inflation.
• If confirmed, this would mark the first reacceleration in headline CPI since February.