INFLATION IN SPAIN
In September 2025, Spain's inflation rose to 2.9%, driven by higher fuel and electricity costs.
EU-harmonised inflation (HICP) reached 3.0%. The government raised its 2025 growth forecast to 2.7%. Tourism hit a record with 66.8 million visitors by August. However, structural challenges like housing imbalances and low productivity remain, along with global uncertainties like shifting U.S. trade policy.