Spanish Inflation Rate At 1.7% in May


Spanish national consumer prices rose 1.7 percent year-on-year in May compared to 1.4 percent in April, according to data from the National Statistics Institute. The inflation rate for May of 2013 is 0.2 percentage points down from 1.9 percent recorded in the same month of the previous year.

The most influential groups in this annual variation are food and non-alcoholic beverages, at 3.4 percent, as a result of the rise in the prices of fresh fruits and fresh vegetables, compared to the lows experienced in 2012 and recreation and culture, up 1.6 percent. 

The price index for transportantion fell 0.1 percent yoy, up 0.6 percentage points from April, mainly due to fuel and oil whose prices fell less sharply than in May last year. The housing index was down 0.1 percent reflecting the fall in gas and heating oil prices.

Spanish harmonised prices rose 1.8 percent from a year earlier, up from 1.5 percent in April. Core inflation, which strips out volatile food and energy prices, was 2.0 percent, compared to a reading of 1.9 percent a month earlier. 

INE | Nuno Fontes | nuno@tradingeconomics.com
6/12/2013 10:22:23 AM