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    Spain: CPI flash at 4.9%, core at 3.1%, ECB deposit rate 2.50%

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    The ECB holds its deposit rate at 2.50% after its October 29, 2026 decision, and Spain's INE flash estimate puts October CPI at 4.9%. Both come in the week of Monday, Oct. 26, 2026, with core inflation at 3.1%.

    Key figures

    IndicatorValuePrevious
    ECB deposit facility rateOctober 29, 20262.50%2.50%September 10, 2026
    ECB marginal lending facility rateOctober 29, 20262.90%2.90%September 10, 2026
    ECB main refinancing operations rateOctober 29, 20262.65%2.65%September 10, 2026
    Spain core CPI, year on year (flash)October 20263.1%3.1%September 2026
    Spain CPI, year on year (flash)October 20264.9%4.9%September 2026
    Spain HICP, year on year (flash)October 20264.9%5%September 2026
    ECB reference rate, US dollars per euroOctober 30, 20261.1172 USD1.1193 USDOctober 23, 2026

    Source: European Central Bank. Data: B-NKER (b-nker.com), CC BY 4.0.

    What was published this week

    • The European Central Bank kept its deposit facility rate at 2.50% on October 29, 2026, and the rate holds at 2.50% set on September 10, 2026. “The interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will remain unchanged at 2.50%, 2.65% and 2.90% respectively.” See the ECB deposit facility rate release.
    • The ECB's marginal lending facility rate is unchanged at 2.90% as of October 29, 2026, matching 2.90% from September 10, 2026. The main refinancing operations rate also holds at 2.65%, the same as 2.65% on September 10, 2026; see the ECB main refinancing operations rate release.
    • The Spanish Statistical Office (INE) flash estimate puts October CPI at 4.9% year on year, unchanged from 4.9% in September 2026. “El indicador adelantado del IPC sitúa su variación anual en el 4,9% en octubre, la misma que la registrada en septiembre.” [The flash CPI indicator puts its annual change at 4,9% in October, the same as that recorded in September] (B-NKER translation) Spain CPI, year on year release.
    • INE's flash estimate shows Spain's HICP at 4.9% year on year in October 2026, and it edges down from 5% in September 2026. Core CPI in the flash estimate holds at 3.1%, unchanged from 3.1% in September 2026; see Spain core CPI, year on year.

    Official exchange rate

    The ECB's reference rate on October 30, 2026 was 1.1172 USD, and it edges down from 1.1193 USD on October 23, 2026. See the ECB reference rate, US dollars per page.

    Next week

    Next release

    Wednesday, Nov. 4

    Sources

    • European Central Bank, ECB deposit facility rate, 2026-10-29Source: European Central Bank (ECB), information available free of charge on the ECB website. Data: B-NKER (b-nker.com), CC BY 4.0.
    • European Central Bank, ECB deposit facility rate, 2026-09-10Source: European Central Bank (ECB), information available free of charge on the ECB website. Data: B-NKER (b-nker.com), CC BY 4.0.
    • Spanish Statistical Office (INE), Spain core CPI, year on year (flash), 2026-10Fuente: Sitio web del INE: www.ine.es Data: B-NKER (b-nker.com), CC BY 4.0.
    • Spanish Statistical Office (INE), Spain core CPI, year on year (final), 2026-09Fuente: Sitio web del INE: www.ine.es Data: B-NKER (b-nker.com), CC BY 4.0.
    • European Central Bank, ECB reference rate, US dollars per euro, 2026-10-30Source: European Central Bank (ECB), information available free of charge on the ECB website. Data: B-NKER (b-nker.com), CC BY 4.0.
    • European Central Bank, ECB reference rate, US dollars per euro, 2026-10-23Source: European Central Bank (ECB), information available free of charge on the ECB website. Data: B-NKER (b-nker.com), CC BY 4.0.

    Every figure in this article is checked by code against the official source before publication. Editorial policy · Corrections log. Information, not investment advice.

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