Inflation remains at 4.9% in October due to fuel price containment

Inflation in Spain remains at 4.9% in October, unchanged from the previous month, primarily due to falling fuel prices. Core inflation also holds steady at 3.1%, the highest in two and a half years. The Bank of Spain has raised its inflation forecast for the year to 3.9%, with potential increases due to geopolitical tensions. The gap between Spanish inflation and that of the eurozone has widened, with Spain experiencing higher price growth since mid-2025, particularly in energy and tourism sectors.