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🇪🇺 Spain's national CPI eased in April. The ECB's target measure did not.
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🇪🇺 Spain's national CPI eased in April. The ECB's target measure did not.

Macro Soup Newsroom Macro Soup Newsroom 3 min read

Spain's HICP rose to 3.5% in April from 3.4%, re-accelerating even as national CPI eased to 3.2%. With a 25 basis point hike priced for June and German consumer confidence at a four-month low, the ECB faces its clearest mandate conflict of the current cycle.

Line chart of annual CPI rate for general (teal) and underlying (orange) indices from January 2025 to April 2026.
Spanish headline inflation eased to 3.2% year-over-year in April. Source

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