June 14, 2024
The annual variation rate of the May CPI stood at 3.6%, three tenths above that recorded in April. The annual rate of core inflation increased by one tenth, to 3.0%. The monthly variation in the general rate was 0.3%.
The annual inflation rate in Spain rose for the third month to an over one-year high of 3.6% in May from 3.3% in April, in line with earlier estimates. Cost accelerated for housing & utilities (5.2% vs 4% in April), restaurant & hotels (5.2% vs 4.8%), transport (3.8% vs 2.9%), recreation & culture (2.8% vs 2.2%), miscellaneous goods & services (3.1% vs 2.9%) and health (2.2% vs 2.1%). On the other hand, prices eased for food & non-alcoholic beverages (4.4% vs 4.7%), and furniture & household equipment (0.6% vs 0.8%), while inflation was steady for alcoholic beverages & tobacco (at 4.1%), clothing & footwear (at 0.8%) and education (at 2.9%). The core rate, excluding volatile items like food and energy, was 3% in May, up from 2.9% in April. On a monthly basis, consumer prices went up 0.3%, after a 0.7% rise in April.
Source: Trading Economics, National Statistics Institute (INE)
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