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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain CPI YoY climbed to 4.3% in August 2026
FMPMonthlyReleased August 2026
Spain CPI YoY climbed to 4.3% in August 2026, up 0.7% from July's 3.6% reading. The reading matched expectations. CPI YoY has now risen for 4 consecutive months. Over the past 3 months, CPI YoY averaged 3.3%, vs 3.08% in the prior 3-month window.
Latest Release
4.3
Actual
4.2
Consensus
3.6
Previous
Median Absolute Error
±0.07 percentage points
across last 9 releases
Last Call
Aug 2026
Predicted: 4.25
Actual: 4.3
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 | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.68 | INDEX | Moves with | → View |
| USD/JPY | ▼ Inverse | −0.63 | FOREX | Moves against | → View |
| GBP/USD | ▲ Direct | +0.44 | FOREX | Moves with | → View |
| EUR/USD | ▲ Direct | +0.34 | FOREX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.29 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI YoY (Spain) was reported at 4.3% in August 2026. This beat the market consensus of 4.2% by 0.1%. The reading rose from the previous value of 3.6%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 3.34%, ranging from 2.8% to 4.3% across 9 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 3.8%, up from the prior three at 3.13%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with USD/JPY, negatively correlated (Bearish USD). Over the last 9 releases, the Sigmacast model's median absolute error is 0.07%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Retail Sales MoM (Sep 29) and Retail Sales YoY (Sep 29).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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CPI YoY - ES
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About CPI YoY — Spain
DEFINITION
Spain's CPI YoY rose to 4.300000% in August, beating the 4.200000% estimate and up from July's 3.600000%. This acceleration signals a sharper inflation trend compared to the prior month. Markets will closely watch upcoming ECB policy moves amid rising price pressures. 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. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 4.3 %, consensus 4.2 %. Prior reading (Jul 2026): 3.6 %. Before that (Jul 2026): 3.5 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher 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 S&P 500 (Bullish S&P 500, r=0.68) — a useful reference for index-focused traders.
Σ
EXPECTED ZONE
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