The IPC rises two tenths in September, to 2.9%, for electricity and fuels
Inflation puts in check the purchasing power of pensioners, with 2.7% more expensive prices
Pensions could climb around 2.5%-2.6% from next January 1, 2026, according to the Evolution of consumer price index (CPI) experienced between December 2024 and September 2025, and taking into account the Inflation estimates For the next two months.
Remember that the Annual revaluation On social security pensions depends on the data of the Annual Average IPC between December of the previous year and November of the current, as established by the Law 21/2021, of December 28 of purchasing power guarantee and other reinforcement measures of financial and social sustainability of the public pension system.
Therefore, to know the Exact percentage of increase of pensions in 2026, we will have to wait until knowing how the Inflation in the months of October and November 2025. With those two figures that remain to find out, it will be enough Find the interannual average of 12 months, And that will be the general increase that the Government will apply on the payroll of pensioners throughout the next year.
However, after announcing this Monday the data of annual September inflation, 2.9%, It is possible to find the average that results from the 10 months we know With certainty (at present, the average is 2.6%), and taking into account the expectations Price for two remaining months, You can already perform a Estimation of what will be the average inflation including November of 2025: Everything seems to point to the result will be in the environment of 2.5%.
The revaluation will not reach 3%, unless IPC surprise shot
If pensions will be revalued with the data until September, the rise would be 2.6%. But, as you have to add the average inflation of October and November, the forecast It must necessarily be approximate.
– If the October annual and November IPC It would remain in the tonic of the current levels, close, but without reaching 3%, The increase in the amount of pensions in 2026 would be around 2.6%. Remember that annual inflation has been around the 2.7%-2.9% In the last three months (July to September), a fact that is slightly higher than the consumption prices in the previous four months.
– If the October annual and November IPC was lower than the current one and will be located in the 2%-2.2%, As happened between May and June, the revaluation of pensions since January 1 would be of the 2.4%-2.5%. This is indicated by the data of the National Statistics Institute, which details that the annual inflation in March was 2.3%, in April of 2.2%, in May 2%and in June of 2.3%.
What seems safe, seen the evolution of the annual CPI data between December 2024 and September 2025, is that the revaluation of pensions next year It will not reach 3%, except that in the coming weeks there were extraordinary inflationary tensions.
In fact, the Ministry of Economy, who directs Carlos body, He trusts that, in the coming months, the IPC approaches the 2%target, despite September. This has been predicted in an interview in RNE: “What we have is a progressive moderation process, and we hope that the following months have a progressive approach to 2%, which is the objective of the European Central Bank,” explained the head of Economics.
Other broken For pensioner’s purchasing power
Social Security pensioners saw Upload your payroll 2.8% general Since January 1, 2025, both the holders of contributory pensions and passive class officials, which resulted in about 600 euros/year for the middle pay retirement.
A revaluation that should serve to protect pensioners in the face of price increases from food and home invoices, But the march of the inflation until September, with a rebound of 2.9%, It shows that the increase in the purchase basket is already more than their pays have uploaded, and threatens to make another broken In the pocket.
The decrease in purchasing power is a fact, as criticized by Movements and Retiree Platforms, Because inflation is not a thing of a few months, but has whipped to citizens since 2022. The risk of hardship is severe for millions of retirees, due to the fact that the vast majority only have the pension to live, and More than half charges less, or around 1,000 euros a month.
