MAIN RESULTS
- The flash estimate of the CPI stands its annual variation at 3.3% in March, one point above that registered in February
- The annual rate of the flash estimate of core inflation remains at 2.7%
- The annual variation of the flash estimate of the HICP is 3.3%
The estimated annual inflation of the CPI in March 2026 is 3.3%, according to the flash estimate prepared by the INE.
This indicator provides a preview of the CPI which, if confirmed, would mean that the annual rate increases by one point, since in the month of February this variation was 2.3%.
This evolution is mainly due to the increase in the prices of fuels and lubricants for personal vehicles.
The decrease in electricity prices, which was lower than last year, and the increase in the prices of heating oil, which fell in March 2025, also have an influence, although to a lesser extent.
The estimated annual variation rate of core inflation (general index excluding unprocessed food and energy products) remains at 2.7%.
MONTHLY RATE EVOLUTION
Consumer prices record a rate of 1.0% in March compared to the month of February, according to the flash estimate of the CPI.
HARMONISED INDEX OF CONSUMER PRICES (HICP)
In the month of March, the estimated annual variation rate of the HICP increases by eight tenths and stands at 3.3%.
The estimated annual rate of core inflation for the HICP stands at 2.8%.
For its part, the estimated monthly variation of the HICP is 1.5%.
Source: INE