Inflation in Spain eases to 3% in November as energy prices dip

Inflation in Spain eased to 3% in November, according to preliminary consumer price index (CPI) data from the National Statistics Institute published on Friday

The figure is a tenth of a point lower than October's year-on-year rate of 3.1%, a dip driven by a drop in electricity prices compared with sharp increases seen a year ago.

Based on this estimate, state pensions are expected to rise by roughly 2.7% next year, about €572 more per year for the average retirement pension.

The final CPI figure will be released on December 12, when the inflation rate for Catalonia will also be published.

Core inflation, which excludes the most volatile items, such as food and energy prices, rose slightly to 2.6%.

The INE reported that leisure and cultural prices fell in November, though less than in the same month last year, while food prices rose after falling in November 2024.

The full breakdown, due in two weeks, will show which products saw the biggest increases. In October, eggs topped the list, surging 15.8%.

Pensions

The figures suggest next year's pensions will rise about 2.7%, based on the consumer price index from last December to this November.

The increase will affect 9.4 million people receiving 10.4 million pensions, adding roughly €498 a year to the average payment, including retirement, disability, widowhood, orphanhood, and family-support benefits.