FX.co ★ Spain’s Core Inflation Ticks Up to 2.7% YoY in February, Ending Recent Stability

Spain’s core Consumer Price Index (CPI) edged higher in February 2026, rising to 2.7% year-over-year, up from 2.6% in January 2026. The latest data, updated on 27 February 2026, indicate a slight acceleration in underlying inflation pressures after a period of relative stability.

Both the January and February readings are calculated on a year-over-year basis, comparing each month’s price growth to the same month a year earlier. The February uptick suggests that price increases in core components—excluding the most volatile items—have not yet begun to ease decisively, potentially reinforcing expectations that underlying inflation remains somewhat persistent in Spain as the year progresses.