What awaits Spain in 2025

What awaits Spain in 2025? According to forecasts by the Spanish economic think tank Funcas, the outlook depends largely on oil prices. In the base case, average inflation in Spain next year will be 1.9%.

However, if oil prices rise to $85 per barrel, annual inflation could reach 2.5%. Conversely, a drop in oil prices to $65 per barrel could reduce inflation to an average of 1.3%. This oil-sensitive dynamic highlights that energy costs remain a key variable for Spain’s inflation trajectory.