Spain's economy is projected to grow 2.2% in 2026 per the Bank of Spain, with inflation at 2.1%, but households will face rises in food, housing, electricity, and other costs. While the price increase pace slows from 2025, immigration and EU funds will boost consumption. Experts note the growing gap between macroeconomic optimism and families' views on their purchasing power.
Spain's economy will sustain growth in 2026, with GDP at 2.2% according to the Bank of Spain, following 2.9% in 2025, and similar 2.1% estimates from Funcas and Caixabank Research. Factors like immigration, falling energy prices, and Next Generation EU funds will drive this, alongside diversified tourism. However, inflation will stand at 2.1%, below 2025's 2.7%, though accumulated prices since the pandemic erode household purchasing power.
Food prices saw IPC at 2.5% year-on-year in November, driven by eggs +30.2%, beef +18%, coffee +17.3%, and chocolate +14.5%, due to avian flu, swine pest, and adverse weather. No significant drops expected soon.
Electricity will see access tolls rise 0.5% and system charges 10%, but bills will decrease due to wholesale prices of 56.77 euros/MWh versus 64.39. The social bonus is extended with 42.5% discounts for vulnerable and 57.5% for severe cases. Gas tolls +11.2% will add 15 euros yearly, while oil stays at 60-70 euros/barrel and gas falls 10%.
Contributory pensions will rise 2.7%, minimums over 7%, and non-contributory 11.4%. Minimum wage up 3.1% to 1,220.70 euros monthly. Public employees get +4% cumulative. Social contributions increase with rising bases and MEI +0.9 points.
Health insurance +7.5% on renewals. Telecom: Vodafone +2.5 euros/month, Movistar +4%, Orange +3.8%. Aena +6.5% on air tariffs. Rent +7%, sales +3-10%, mortgages toward 3%. Public transport aids remain.
