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Inflation Calculator: Spain

See what an amount from any past year is worth today in 15 countries, or deflate today's money back in time, using each country's own official price index.

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Country

Indice de Precios de Consumo, 2010=100, 1954 to 2025.

Amount and years
€

Annual averages, 1954 to 2025. Enter a later "from" year to deflate.

Spain: the series starts in 1954, but nothing happened that year

It is worth being straightforward about this. There is no Spanish event in 1954 that justifies the start date; it is where the chained data begins. Spain's own continuous national index, published by INE, starts in 1961.

That matters because the intervening years are the tail of a period when Spanish prices are genuinely hard to measure. Rationing ran from May 1939 to 1952, at its height issuing more ration cards than there were people, and a large share of real trade happened on the black market at prices no official index recorded. The scale of the gap is documented: between 1935 and 1940 the official index rose 78.1%, while the Chambers of Commerce series rose 145.2%, and the Banco de España's own historical study treats the second as closer to the truth.

So a conversion from the 1940s or early 1950s is built on prices many Spaniards did not actually pay. Treat it as indicative and no more.

The peseta conversion, and the year everyone misremembers

Spain adopted the euro at 166.386 pesetas, so a peseta figure divides by a large number and the result looks startlingly small. That is arithmetic, not error.

The year people reach for is 1977, and the figure they usually quote is not the one this page produces. This series gives 1977 at 24.5%, its maximum. Higher numbers in circulation are within-year rates rather than annual averages. It was the year of the Pactos de la Moncloa, signed on 25 October 1977, which capped the following year's wage rises against expected rather than past inflation, and it is the pivot of the transition's economic history.

Recent Spanish inflation, and what indexes a rent

Spain's modern peak was 10.8% in July 2022, which INE described as the highest since September 1984, with food up 13.5%, the sharpest since that series began in 1994.

If you are converting because of a tenancy, the IPC is no longer the operative index. Under the 2023 housing law INE now publishes the IRAV, a reference index for annual rent updates that takes the lower of headline and core inflation with a medium-term moderation, and it is that figure, not the one on this page, that limits what a Spanish landlord may add.

For how the calculation works, the formula behind it and what it leaves out, see the full guide. For help interpreting a result or comparing it with a quote or statement, read the questions and answers.

Data sources

Indice de Precios de Consumo, annual averages (2010 = 100)INEWithin its effective period

Every document each dataset was read from, its notes and how the figures were checked are listed in the guide's data sources.

This calculator in other countries

Each country has its own rates, thresholds and rules, and its own page that runs the calculator on them and cites the official sources they came from.

CentExactCalculator publisher

CentExact publishes the calculation method, worked examples and available data sources. Automated checks cover reference calculations; they do not certify a result for your circumstances or imply approval by a lender or tax authority.

How we build and test our calculators

Figures are estimates derived from published rates and rules, current at the review date shown at the top of this page and taken from the sources listed under Data sources on this page. Rates, fees and thresholds change; always confirm current values with the official source before relying on a result.