MAIN RESULTS
- The flash estimate of the CPI sets its annual variation at 2.9% in December, one tenth less than that registered in November
- The annual rate of the flash estimate of core inflation remains at 2.6%
- The annual variation of the flash estimate of the HICP is 3.0%
The estimated annual inflation of the CPI in December 2025 is 2.9%, 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 decreases by one tenth, since in the month of November this variation was 3.0%.
This evolution is mainly due to the drop in prices of fuels and lubricants for personal vehicles, compared to the increase in December 2024. Also, although to a lesser extent, to leisure and culture prices, which rise, but less than in the same month of the previous year.
On the other hand, food and non-alcoholic beverages have an upward effect, with prices rising more than in December last year.
The estimated annual variation rate of core inflation (general index excluding unprocessed food and energy products) remains at 2.6%.
MONTHLY RATE EVOLUTION
Consumer prices register a rate of 0.3% in December compared to the month of November, according to the flash estimate of the CPI.
HARMONISED INDEX OF CONSUMER PRICES (HICP)
In the month of December, the estimated annual variation rate of the HICP decreases by two tenths and stands at 3.0%.
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 0.3%.
Source: INE