Inflation in Aragon accelerated to an annual rate of 3.9% in August 2026, seven-tenths of a percentage point higher than the previous month, driven by rising fuel and electricity prices. Aragon’s rate stood four-tenths below the Spanish average, which reached 4.3%, but six-tenths above the eurozone rate.
Energy pushes Aragon’s CPI to 3.9% in August
Higher fuel prices were the main factor behind the increase in Aragon’s consumer price index, according to data from the Instituto Nacional de Estadística. Also contributing, albeit to a lesser extent, was the fact that food and beverage prices fell less sharply than they had in August of the previous year.
Core inflation, which excludes unprocessed food and energy products, remained at an annual rate of 2.6% in Aragon for the third consecutive month. In Spain, it eased by one-tenth to 2.9%, while in the eurozone it declined to 2.1%.
Developments in energy markets added to price pressures. Brent crude averaged $87.3 a barrel, up 5.1% from July and 30.2% above its level in August 2025. Meanwhile, TTF natural gas reached €62.1 per MWh, rising 15.2% month on month and 90% year on year.
Transportation and housing post the biggest price increases in Aragon
Transportation led inflation across consumption categories, with an annual rate of 9.3%, driven by fuel costs. Housing recorded an increase of 7.6%, linked to electricity prices. Information and communications, at 3.3%, and personal care, social protection and other goods and services, at 3.2%, also stood out.
Food and nonalcoholic beverages rose at an annual rate of 2.1%, the same pace as education services. Restaurants and accommodation increased 2.7%, while health care rose 2.3%. At the other end of the scale, clothing and footwear was the only category with a negative rate, at -2.3%, due to deeper summer sales than a year earlier.
On a monthly basis, prices in Aragon rose 0.6% in August. Transportation led the increases, climbing 3.2%, followed by information and communications, up 1.2%, and housing, up 0.9%. Food and nonalcoholic beverages fell 0.3%, while clothing and footwear declined 1.7% because of summer sales.
Huesca records the highest inflation rate as the ECB raises rates again
Inflation varied across Aragon’s provinces. Huesca recorded the highest rate, at an annual 4.3%, followed by Teruel at 4.2%. In Zaragoza, the CPI rose 3.7% from August a year earlier.
Meanwhile, the Governing Council of the European Central Bank raised interest rates by 25 basis points at its September 9-10 meeting. The deposit facility rate was set at 2.50%, the rate on main refinancing operations at 2.65%, and the marginal lending facility rate at 2.90%.
The move was the second rate increase of the year, following the one implemented in June. Markets expect two additional increases before year-end, taking the benchmark rate—the deposit facility rate—to 3%.
