Spanish rent and the CPI in 2026: which month applies

Pick the month your lease has its anniversary in 2026: the tool takes the last CPI published on that day and applies the caps.

A Spanish rent update does not use the CPI of the anniversary month. The Urban Leases Act points to the latest index published on the update date, and INE publishes each month around the middle of the next one. An update on the first of the month therefore uses the figure from two months earlier: a January 2026 anniversary used the November 2025 CPI (3.0%), a May anniversary the March figure (3.4%), and a November anniversary the September figure (4.9%). The most recent month published is September 2026. 2026 splits into two parts. Until 7 October, only the lease’s own index applied, capped by the IRAV for leases signed from 26 May 2023. From 8 October 2026, Royal Decree-law 29/2026 adds a 2% ceiling without a new agreement, and a full freeze where the rent is above the area’s reference price. An anniversary on 1 October missed the cap by a week.

Rent above the reference index?

Rent from November 2026

€969.00

+€19.00 a month · +€228.00 a year

2% cap of Royal Decree-law 29/2026 (anniversary between 8/10/2026 and 31/12/2027, no new agreement).
Reference monthSeptember 2026
General CPI, annual change4.9%
IRAV, annual change2.54%
Increase applied2.00%
New rent€969.00
Assumptions

INE indices. Royal Decree-law 29/2026 has applied since 8 October 2026 and still needs to be confirmed by Congress: if it is repealed, its 2% cap stops applying. Leases signed before 26 May 2023 keep the index they agreed. Method and sources

Checked by Radif Partners · Editorial policy · Method and sources

The twelve anniversaries of 2026

INE data read on 24 October 2026. No new agreement; rent not above the reference price.
Anniversary on the 1stReference monthCPIIRAVIncrease, 2024 lease with CPI clause
January 2026November 20253.0%2.29%2.29%
February 2026December 20252.9%2.32%2.32%
March 2026January 20262.3%2.14%2.14%
April 2026February 20262.3%2.16%2.16%
May 2026March 20263.4%2.47%2.47%
June 2026April 20263.2%2.40%2.40%
July 2026May 20263.2%2.48%2.48%
August 2026June 20263.2%2.44%2.44%
September 2026July 20263.6%2.49%2.49%
October 2026August 20264.3%2.47%2.47%
November 2026September 20264.9%2.54%2.00%
December 2026October 2026not out yetnot out yetnot out yet

The last column is a lease signed in June 2024 with a CPI clause: capped by the IRAV all year, and by 2% from the November anniversary. A lease signed before 26 May 2023 would take the full CPI up to October, then 2%.

Sources and next steps

The rule on the reference month is in article 18 of the Urban Leases Act; the CPI figures are on the INE latest-data page. For the cap and its legal status, see the 2% cap until 2027; for the index itself, the IRAV series.

Frequently asked questions

My anniversary is mid-month: does a different CPI month apply?

Possibly. The rule is the latest index published on the update date. If your lease runs from the 20th and INE released the previous month’s figure around mid-month, before your date, that month is already available, so the reference is one month later than in the table. Check the INE release date for your month before writing the notice.

Is a December 2026 update already calculable?

Not yet. A 1 December anniversary uses the October 2026 figures, which INE publishes around mid-November 2026. Until then the tool says the figure is not out. What is already known is the ceiling: without a new agreement, a December 2026 update cannot exceed 2% under the decree-law, and it is zero if the rent is above the reference price.

I missed my landlord’s update notice in spring: can it be applied now?

The updated rent is only payable from the month after a written notice, so a spring update notified in the autumn does not make the past months payable. Which index month should then be used is a point lawyers can argue about; if the amount at stake matters to you, get advice before paying or claiming arrears.

Related pages and calculations

Rent increase: CPI vs IRAV vs 2%

Your Spanish rent with the CPI, with the IRAV and with the 2% cap, in euros a month and a year, and which one your lease gets.

Rent update in Spain

How a Spanish residential lease is updated each year: CPI (IPC) or IRAV, the lease date that decides, and the 2% cap until 2027.

IRAV index (Spain)

Every published value of Spain’s IRAV housing lease index, compared with the CPI, and the leases it applies to.

Official sources

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Official indices checked in 2026, site checked on