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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain CPI MoM climbed to 0.7% in August 2026
FMPMonthlyReleased August 2026
Spain CPI MoM climbed to 0.7% in August 2026, up 0.4% from July's 0.3% reading. The print came in hotter than the 0.6% consensus, a hotter print than forecasters anticipated. CPI MoM has now risen for 3 consecutive months. Over the past 3 months, CPI MoM averaged 0.36%, vs 0.62% in the prior 3-month window.
Latest Release
0.7
Actual
0.6
Consensus
0.3
Previous
Median Absolute Error
±0.07 percentage points
across last 8 releases
Last Call
Aug 2026
Predicted: 0.61
Actual: 0.7
Error: -0.09
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| BTC/USD | ▼ Inverse | −0.66 | CRYPTO | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.52 | COMMODITIES | Moves against | → View |
| S&P 500 | ▼ Inverse | −0.38 | INDEX | Moves against | → View |
| USD/JPY | ▲ Direct | +0.37 | FOREX | Moves with | → View |
| EUR/USD | ▼ Inverse | −0.33 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI MoM (Spain) was reported at 0.7% in August 2026. This beat the market consensus of 0.6% by 0.1%. The reading rose from the previous value of 0.3%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 0.44%, ranging from 0.1% to 1% across 9 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 0.4%, down from the prior three at 0.43%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with BTC/USD (Bearish BTC). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU). Over the last 8 releases, the Sigmacast model's median absolute error is 0.07%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Sep 22) and Retail Sales MoM (Sep 29).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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CPI MoM - ES
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About CPI MoM — Spain
DEFINITION
Spain's CPI MoM rose 0.700000% in August, beating the 0.600000% estimate. This marks an increase from July's 0.300000%, signaling accelerating inflation momentum. The stronger inflation print may influence ECB policy discussions ahead of upcoming releases. Updated 8/28/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 0.7 %, consensus 0.6 %. Prior reading (Jul 2026): 0.3 %. Before that (Jul 2026): 0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with BTC/USD (Bearish BTC, r=-0.66) — a useful reference for crypto-focused traders.
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