Spain Inflation Rate Confirmed at -0.2% in May

Consumer prices in Spain declined 0.2 percent year-on-year in May of 2015 compared to a 0.6 percent drop in April. While cost of transport, communications and leisure activities fell at a slower pace, food and accommodation prices accelerated.

The biggest price decreases were reported for: housing (-2.4 percent from -1.9 percent in April); transport (-2.2 percent from -3.4 percent); communications (-1.9 percent from -3.5 percent); and recreation and culture (-0.8 percent from -1.3 percent). In contrast, upward pressure came from: food and non-alcoholic beverages (+1.3 percent from +0.4 percent in April); restaurants, cafes and hotels (+0.9 percent from +0.6 percent); alcoholic beverages and tobacco (+1.6 percent from +1.5 percent); and clothing and footwear (+0.4 percent from +0.1 percent).

Annual core inflation was recorded at 0.5 percent, up from 0.3 percent in April.

On a monthly basis, consumer prices rose at a slower 0.5 percent, after increasing 0.9 percent in April. Cost of transport increased by 1.4 percent; clothing and footwear by 2.6 percent; food by 0.5 percent and communications by 1.6 percent. On the other hand, price decreases were reported for housing (-0.5 percent) and recreation and culture (-0.9 percent).

The EU-harmonized index decreased 0.3 percent year-on-year but rose 0.4 percent month-over-month.

Spain Inflation Rate Confirmed at -0.2% in May

INE | Joana Ferreira |
6/12/2015 1:01:17 PM