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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain HICP MoM climbed to 0.6% in August 2026
FMPMonthlyReleased August 2026
Spain HICP MoM climbed to 0.6% in August 2026, up 0.6% from July's 0.0% reading. The reading missed the 0.8% consensus by 0.2%. HICP MoM has now risen for 3 consecutive months. Over the past 3 months, HICP MoM averaged 0.24%, vs 0.85% in the prior 3-month window. The reading is in the 73rd percentile of the trailing 24-month range.
Latest Release
0.6
Actual
0.8
Consensus
0
Previous
Median Absolute Error
±0.1 percentage points
across last 12 releases
Last Call
Aug 2026
Predicted: 0.83
Actual: 0.6
Error: +0.23
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 | −0.56 | CRYPTO | Moves against | → View |
| GBP/USD | ▼ Inverse | −0.48 | FOREX | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.25 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
HICP MoM (Spain) was reported at 0.6% in August 2026. This missed the market consensus of 0.8% by 0.2%. The reading rose from the previous value of 0%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 0.25%, ranging from -0.8% to 1.5% across 21 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 0.17%, down from the prior three at 0.43%. Volatility over the past year (σ 0.47%) is higher than the prior year (σ 0.38%). In August readings over the past 3 years, HICP MoM has averaged 0.08%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with BTC/USD (Bearish BTC). A secondary relationship exists with GBP/USD, negatively correlated (Bearish GBP). Over the last 12 releases, the Sigmacast model's median absolute error is 0.1%.
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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HICP MoM - ES
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About HICP MoM — Spain
DEFINITION
Spain's HICP MoM rose 0.600000% in August, missing the 0.800000% estimate but up from July's 0.000000%. August's inflation increase signals a moderate acceleration after a flat reading in July. Market focus will remain on ECB policy amid persistent inflation 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. 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 0.6 %, consensus 0.8 %. Prior reading (Jul 2026): 0 %. Before that (Jul 2026): 0 %.
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 bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary neutral force in the current projection. This indicator correlates most strongly with BTC/USD (Bearish BTC, r=-0.56) — a useful reference for crypto-focused traders.
Σ
EXPECTED ZONE
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