Inflation rises in April, reaching 2.2% year-on-year

Thursday 30 April 2026 - 07:45

Inflation accelerated again in April, reaching 2.2% year-on-year, according to preliminary estimates published by the national statistics institute. This increase marks a sharp rise compared to the 0.3% recorded in January, reflecting renewed pressure on prices in recent months.

The surge is largely driven by higher energy costs. Energy prices alone rose by 14.2% over one year in April, significantly up from the previous month. This trend is closely linked to rising global commodity prices, particularly oil, amid ongoing geopolitical tensions in the Middle East since late February.

Fuel costs have been especially affected. In recent weeks, the price of diesel has increased sharply, while gasoline prices have also climbed noticeably. This has put additional strain on both households and businesses, particularly in rural and suburban areas where car use is essential.

The broader question now is how far inflation could rise. While the current increase remains more moderate than during the energy crisis of 2022, concerns are growing about the potential long-term impact of geopolitical instability. Forecasting inflation has become increasingly complex, as it depends heavily on how the situation evolves internationally.

Economic projections suggest different scenarios. A relatively quick resolution of the conflict could help stabilize inflation, while a prolonged crisis could push it significantly higher. For now, experts note that rising energy costs have not yet fully spread to other sectors, with the exception of transport services.

Another factor helping to contain inflation is moderate wage growth. Compared to other European countries, price increases remain relatively limited, partly because salaries are not rising rapidly.

Despite this, uncertainty remains high, and both consumers and businesses are closely watching developments in energy markets and global politics.