FX.co ★ Spanish Inflation Holds Steady at 2.3% in February, Matching January’s Reading

Spain’s consumer price inflation remained unchanged in February 2026, with the year-over-year Consumer Price Index (CPI) holding at 2.3%, the same rate recorded in January 2026. The latest figures, updated on 27 February 2026, indicate that price pressures have stabilized at a level slightly above the European Central Bank’s 2% target but show no sign of renewed acceleration.

On a year-over-year basis, both the January and February readings compare price changes to the same months a year earlier, suggesting that the disinflationary trend seen in previous quarters may have run its course for now. The steady 2.3% rate points to a period of relative price stability for Spanish consumers and businesses, potentially easing uncertainty around short-term cost developments.

With inflation neither rising nor falling between January and February, the data may offer policymakers and markets clearer visibility on Spain’s near-term inflation path, even as broader euro area dynamics and energy and food price developments remain key variables to watch in the months ahead.