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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain CPI MoM fell to 0.1% in May 2026
FMPMonthlyReleased June 2026
Spain CPI MoM fell to 0.1% in May 2026, released June 2026, down 0.3% from April's 0.4% reading. The reading matched expectations. The print is running well below the 12-month average of 0.62%.
Latest Release
0.1
Actual
0.1
Consensus
0.4
Previous
Median Absolute Error
±0.07 percentage points
across last 4 releases
Last Call
Jun 2026
Predicted: 0.05
Actual: 0.1
Error: -0.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.35 | INDEX | Bullish EU | → View |
| EUR/JPY | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → 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 0.1% in June 2026. This matched the market consensus of 0.1% exactly. The reading fell from the previous value of 0.4%. Trailing 12-month context per ETL data through June 2026.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with DAX, positively correlated (Bullish EU).
WHAT TO WATCH NEXT
The next release is scheduled for June 29, 2026. Same-country events in the next 14 days include Balance of Trade (Jun 23) and Gross Domestic Product QoQ (Jun 25).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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CPI MoM - ES
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About CPI MoM — Spain
DEFINITION
Spain's CPI MoM for May came in at 0.100000%, matching estimates but down sharply from April's 0.400000%. May's inflation pace slowed significantly, indicating a marked deceleration in monthly price increases. Market focus now shifts to upcoming ECB policy signals amid this easing inflation trend. Updated 6/12/26
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 (May 2026): actual 0.1 %, consensus 0.1 %. Prior reading (May 2026): 0.1 %. Before that (Apr 2026): 0.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.