diff --git a/src/analyzer.ts b/src/analyzer.ts
index bf9df2d..d624ad9 100644
--- a/src/analyzer.ts
+++ b/src/analyzer.ts
@@ -17,6 +17,7 @@ import {
 	getEffectiveBody,
 	getEffectivelySingleBlock,
 	getEffectivelySingleExpression,
+	isDataExpression,
 	isRootPathTraversal,
 	isRootSegments,
 	isThisExpression,
@@ -468,6 +469,12 @@ function processMustache(
 	// ── Simple expression ────────────────────────────────────────────────────
 	const resolved = resolveExpressionWithDiagnostics(stmt.path, ctx, stmt) ?? {};
 
+	// @data variables (@index, @first, @last, @key) are runtime-provided —
+	// optionality checks against the input schema do not apply.
+	if (isDataExpression(stmt.path)) {
+		return resolved;
+	}
+
 	// When the expression points to an optional property (not in `required`),
 	// the output can be null at runtime. Wrap the resolved schema with null
 	// so the output schema accurately reflects this.
@@ -1215,6 +1222,34 @@ function inferBlockType(
  *
  * @returns The resolved sub-schema, or `undefined` if the path is invalid.
  */
+
+// ─── @data variable types ────────────────────────────────────────────────────
+// Handlebars injects these variables inside block helpers at runtime.
+// We map each known variable to its static type so the analyzer can
+// validate templates that use them without false UNKNOWN_PROPERTY errors.
+
+const DATA_VARIABLE_SCHEMAS: Record<string, JSONSchema7> = {
+	index: { type: "number" },
+	first: { type: "boolean" },
+	last: { type: "boolean" },
+	key: { type: "string" },
+};
+
+/**
+ * Returns the inferred schema for a Handlebars `@data` variable.
+ * Known variables (`@index`, `@first`, `@last`, `@key`) return their
+ * concrete type; unknown `@data` variables return the open schema `{}`
+ * (any type) to avoid blocking valid templates.
+ */
+function resolveDataExpression(expr: hbs.AST.PathExpression): JSONSchema7 {
+	const name = expr.parts[0];
+	if (name && name in DATA_VARIABLE_SCHEMAS) {
+		return DATA_VARIABLE_SCHEMAS[name] as JSONSchema7;
+	}
+	// Unknown @data variable — return open schema (best-effort)
+	return {};
+}
+
 function resolveExpressionWithDiagnostics(
 	expr: hbs.AST.Expression,
 	ctx: AnalysisContext,
@@ -1226,6 +1261,14 @@ function resolveExpressionWithDiagnostics(
 		return ctx.current;
 	}
 
+	// ── Handlebars @data variables (@index, @first, @last, @key) ────────────
+	// These are runtime-provided by Handlebars inside block helpers (e.g.
+	// `#each`). They are NOT part of the user's input schema, so we must
+	// short-circuit here to avoid false UNKNOWN_PROPERTY diagnostics.
+	if (isDataExpression(expr)) {
+		return resolveDataExpression(expr as hbs.AST.PathExpression);
+	}
+
 	// ── SubExpression (nested helper call, e.g. `(lt account.balance 500)`) ──
 	if (expr.type === "SubExpression") {
 		return resolveSubExpression(expr as hbs.AST.SubExpression, ctx, parentNode);
diff --git a/src/parser.ts b/src/parser.ts
index 416ecaa..80b60af 100644
--- a/src/parser.ts
+++ b/src/parser.ts
@@ -105,6 +105,18 @@ export function isThisExpression(expr: hbs.AST.Expression): boolean {
 	return path.original === "this" || path.original === ".";
 }
 
+/**
+ * Checks whether an AST expression is a Handlebars `@data` variable
+ * (e.g. `@index`, `@first`, `@last`, `@key`).
+ *
+ * These variables are injected by Handlebars at runtime inside block helpers
+ * and are not part of the user-provided input schema.
+ */
+export function isDataExpression(expr: hbs.AST.Expression): boolean {
+	if (expr.type !== "PathExpression") return false;
+	return (expr as hbs.AST.PathExpression).data === true;
+}
+
 /**
  * Checks whether an AST expression is a `PathExpression` whose first
  * segment is the `$root` token.
diff --git a/tests/analyzer.spec.ts b/tests/analyzer.spec.ts
index 6847478..577bca3 100644
--- a/tests/analyzer.spec.ts
+++ b/tests/analyzer.spec.ts
@@ -364,6 +364,64 @@ describe("analyzer", () => {
 		});
 	});
 
+	describe("validation — @data variables in #each", () => {
+		test("@index does not produce validation errors", () => {
+			const result = analyze(
+				"{{#each tags}}{{@index}}: {{this}} {{/each}}",
+				userSchema,
+			);
+			expect(result.valid).toBe(true);
+			expect(result.diagnostics).toHaveLength(0);
+		});
+
+		test("@first does not produce validation errors", () => {
+			const result = analyze(
+				"{{#each tags}}{{#if @first}}[FIRST] {{/if}}{{this}}{{/each}}",
+				userSchema,
+			);
+			expect(result.valid).toBe(true);
+			expect(result.diagnostics).toHaveLength(0);
+		});
+
+		test("@last does not produce validation errors", () => {
+			const result = analyze(
+				"{{#each tags}}{{this}}{{#unless @last}}, {{/unless}}{{/each}}",
+				userSchema,
+			);
+			expect(result.valid).toBe(true);
+			expect(result.diagnostics).toHaveLength(0);
+		});
+
+		test("@key does not produce validation errors", () => {
+			const result = analyze(
+				"{{#each tags}}{{@key}}={{this}} {{/each}}",
+				userSchema,
+			);
+			expect(result.valid).toBe(true);
+			expect(result.diagnostics).toHaveLength(0);
+		});
+
+		test("@index infers number type in output schema", () => {
+			const result = analyze("{{#each tags}}{{@index}}{{/each}}", userSchema);
+			expect(result.valid).toBe(true);
+			expect(result.outputSchema).toEqual({ type: "string" });
+		});
+
+		test("@data variables work alongside regular properties", () => {
+			const result = analyze(
+				"{{#each orders}}{{@index}}: {{product}} (x{{quantity}}){{/each}}",
+				userSchema,
+			);
+			expect(result.valid).toBe(true);
+			expect(result.diagnostics).toHaveLength(0);
+		});
+
+		test("unknown @data variable does not cause errors", () => {
+			const result = analyze("{{#each tags}}{{@level}}{{/each}}", userSchema);
+			expect(result.valid).toBe(true);
+		});
+	});
+
 	describe("validation — #with block", () => {
 		test("#with on a valid object — correct inner access", () => {
 			const result = analyze("{{#with address}}{{city}}{{/with}}", userSchema);