April 2025 CPI Reports: Spain, Germany & EU

The Consumer Price Index (CPI) is a key economic indicator that measures inflation and deflation, offering insights into a nation's economic well-being. It tracks changes in prices to gauge inflation and deflation, providing valuable information about an economy's health. Moreover, central banks use this data to shape interest rates and monetary policies. 

Consequently, traders, analysts, and consumers alike closely monitor the monthly CPI releases as they navigate the complexities of the financial markets.

Let’s dive into April’s CPI reports:

CPI Releases in April 2025 

• Spain April CPI on Tuesday, 29 April. 

• Germany April CPI on Wednesday, 30 April. 

• France April CPI on Wednesday, 30 April.

• Poland April CPI on Wednesday, 30 April. 

• Italy April CPI on Wednesday, 30 April. 

April 2025 CPI Previews

Spain

Spain’s April 2025 CPI is expected to rise by 0.5% in April, reaching 119.47 by the end of the quarter, due to seasonal factors and potential rebounds in areas like food and energy.

Germany 

Germany's April 2025 CPI is expected to rise slightly, with annual inflation nearing 2%. The government predicts inflation will fall to ~2% this year due to low price pressures, aligning with ECB targets. Energy prices are falling, but food inflation remains high.

France

France's April 2025 CPI is expected to rise 0.2% Month over Month, matching March's figure. Due to lower energy and manufactured goods prices, annual inflation is projected at 0.8% year over year. Despite 2025 inflation expectations of 2%, actual CPI is predicted to remain significantly lower.

Poland 

Poland's April 2025 CPI is forecasted at 5% annually, mirroring March, with a 0.2% monthly increase. Core inflation is stable, and the outlook is driven by rising essential goods prices.

Italy 

Italy's April 2025 CPI is expected to rise 0.4% MoM, with annual inflation holding steady at 1.9%. Non-regulated energy, food, and tobacco are the main contributors, while core inflation remains near 1.7%.

However, only time will tell what these reports will actually look like. 

2025 Previous CPI Report Results 

To get a better understanding of the possible direction of this month’s aforementioned CPI releases, it may be helpful to take a look at last month’s reports and what they revealed. 

Spain March CPI

Spain's CPI rose 2.3% year-on-year in March 2025, down from 3.0% in February, marking a five-month low. This was below market expectations of 2.7%. The decline was primarily fueled by falling electricity prices and, to a lesser extent, reduced fuel and lubricant costs for personal vehicles. Core inflation also decreased to 2.0% from February's 2.2%. Month-on-month, the CPI saw a slight increase of 0.1%. The EU-harmonised CPI rose by 2.2% year-on-year.

Germany March CPI

In March 2025, Germany's CPI saw a year-on-year increase of 2.2%, the lowest since November 2024. This marks a slight decrease from February's 2.3% and a monthly increase of 0.3%. The slowdown was fueled by a continuing drop in energy prices (down 2.8% year-on-year), while food inflation rose to 2.9%. Core inflation, excluding food and energy, fell to 2.5%. The HICP increased by 0.4% from the previous month and by 2.3% from the same month in the previous year.

France March CPI

In March 2025, France's CPI increased by 0.2% from the previous month, contrasting with February's stagnant figures. The year-on-year inflation rate held steady at 0.8%, mirroring the previous month's rate. The rise in prices for manufactured goods, particularly clothing and footwear, was the main driver of the monthly increase. This occurred while energy prices continued to fall.

Poland March CPI

In March 2025, Poland's CPI showed a year-on-year increase of 4.9%, marking the third month at this rate. A monthly increase of 0.2% was also noted. The main contributors to inflation were price increases in food and non-alcoholic beverages (6.7%), alcoholic beverages and tobacco (5.8%), and housing and utilities (10.9%). Conversely, transport prices decreased by 3.6%.

Italy March CPI

Italy's CPI rose 0.2% in March 2025 from the previous month, reaching a yearly rate of 1.9%, the highest in 18 months. This rise was fueled by increased prices for non-regulated energy products, tobacco, unprocessed food, and recreational services. Core inflation, excluding energy and fresh food, remained stable at 1.7%. (Source: Trading Economics)

Conclusion 

April 2025 CPI reports across Europe show a broad divergence in inflation trends. While countries like France and Germany are experiencing softer inflation, Poland continues to face heightened pressures. Italy and Spain sit somewhere in the middle with modest but steady increases. These figures offer key insights for central banks and market participants as they weigh interest rate decisions and broader economic strategies.

*Past performance does not reflect future results.

FAQs:

What is CPI, and why does it matter?

CPI measures the average change in prices over time for goods and services. It’s a key indicator of inflation and economic health, influencing everything from interest rates to the cost of living.

Who uses CPI data?

Central banks, governments, investors, analysts, and consumers use CPI data to gauge economic trends and make informed financial decisions.

How often is CPI released?

CPI is typically released monthly by national statistics agencies.

Why are different countries seeing different inflation rates?

Inflation is influenced by local factors like energy costs, food prices, wage growth, and policy decisions, which vary country by country.