Inflation forecast · World Bank data
Spain inflation forecast
Inflation (CPI, annual %)
Latest · 2025
2.7%
Inflation in Spain is forecast at 2.6% in 12 months (2026), with an 80% range of 0.1% to 6.0%. The latest World Bank figure is 2.7% for 2025.
In 24 months (2027) and 36 months (2028) the model projects 2.6% and 2.7% (0.0 pp versus 2025).
Display-only line. World Bank data is annual: the forecasts are the yearly points marked on the chart. The monthly line between them is a straight-line interpolation for display, not a monthly forecast.
- 6 monthsinterpolated · display only
- 2.7%■ 0.0 pp80%: 1.4% – 4.3%
- 12 months2026
- 2.6%▼ −0.1 pp80%: 0.1% – 6.0%
- 24 months2027
- 2.6%▼ −0.1 pp80%: −0.2% – 6.4%
- 36 months2028
- 2.7%■ 0.0 pp80%: −0.3% – 6.8%
Backtest · last 5 years
How accurate has this been?
| Horizon | Tests | Avg. error | Naive error | In 80% range |
|---|---|---|---|---|
| 12 months | 5 | 2.63 pp | 2.88 pp | 60% |
| 24 months | 4 | 3.52 pp | 3.91 pp | 75% |
| 36 months | 3 | 2.64 pp | 3.30 pp | 100% |
We re-ran the model as if standing at past dates, using only the data available then. Avg. error is the mean absolute gap between the median and what happened (percentage points); naive assumes no change from the last value. A well-calibrated 80% range contains about 80% of outcomes. Annual series have few test points, so treat these as rough. Methodology
Source data
Recent values
| Year | Value | Change |
|---|---|---|
| 2025 | 2.7% | −0.05 pp |
| 2024 | 2.7% | −0.79 pp |
| 2023 | 3.5% | −4.86 pp |
| 2022 | 8.4% | +5.30 pp |
| 2021 | 3.1% | +3.42 pp |
| 2020 | −0.3% | −1.02 pp |
| 2019 | 0.7% | −0.98 pp |
| 2018 | 1.7% | −0.28 pp |
| 2017 | 2.0% | +2.16 pp |
| 2016 | −0.2% | +0.30 pp |
About this forecast
- Source
- World Bank, World Development Indicators · series FP.CPI.TOTL.ZG
- Data through
- 2025 · 66 observations
- Forecast updated
- Sep 28, 2026
- Model
- TimesFM 2.5 (Google Research, Apache-2.0), zero-shot
More forecasts for Spain
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All 39Statistical model, not financial advice. This forecast is generated automatically from public data; the 80% range means outcomes are expected outside it about one time in five. Don't make financial decisions based only on it.
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