Spain Inflation Rate Confirmed At 1.9% In May


Consumer prices in Spain increased by 1.9 percent year-on-year in May 2017, easing from a 2.6 percent gain in April and in line with preliminary estimates. It was the lowest inflation rate since December last year, as prices of fuel and tourist packages dropped. On a monthly basis, consumer prices edged down 0.1 percent compared with an increase of 1 percent in April.

Year-on-year, consumer prices advanced slower for transport (3.4 percent vs 6.2 percent), recreation and culture (1.2 percent vs 3.4 percent) and hotels, cafes and restaurants (1.8 percent vs 2 percent). Meanwhile, inflation was steady for food and non-alcoholic beverages (1.1 percent) and housing (5.4 percent),

Annual core inflation, which strips out volatile food and energy prices, was 1 percent, lower than 1.2 percent a month earlier.

On a monthly basis, consumer prices decreased 0.1 percent compared to a 1 percent increase in April.

The EU-harmonised index rose 2 percent year-on-year, lower than 2.6 percent in April. The monthly rate was unchanged compared to 0.9 percent increase in April.

INE | Yekaterina Guchshina | yekaterina@tradingeconomics.com
6/13/2017 7:14:18 AM