Inflation in Spain sees biggest drop in 10 months, easing to 2.4% in January

Inflation in Spain eased by half a percentage point in January compared with December, falling to 2.4%, according to preliminary data released on Friday.

The decline was mainly attributed to electricity prices, which rose less sharply this month than a year earlier, as well as fuel prices for personal vehicles.

It is the largest fall in 10 months when considering final inflation figures, and the biggest in 12 months based on preliminary data.

The 2.4% inflation rate in January is the lowest since June 2025, when it stood at 2.2%.

Core inflation, which excludes more volatile items such as fresh food and energy, remained at 2.6% for the third consecutive month.

The Economy Ministry said in a statement that inflation "continues to moderate," in line with the European Central Bank’s target of 2%.