Spain Inflation Rate Revised Higher to Over 1-Year High

Spain's annual inflation rate went up to 2.1 percent in May 2018, above the preliminary estimate of 2 percent and the previous month's figure of 1.1 percent. It was the highest inflation rate since April 2017.

Year-on-year, prices rose at a faster pace for transport (5.1 percent vs 2 percent in April); housing & utilities (2.3 percent vs 0.8 percent); food & non-alcoholic beverages (2 percent vs 1.6 percent); restaurants & hotels (2 percent vs 1.6 percent); clothing & footwear (1 percent vs 0.8 percent); and miscellaneous goods & services (0.9 percent vs 0.8 percent). In addition, recreation & culture prices surged 0.8 percent, after a 1.4 percent drop in the previous month.

Annual core inflation, which excludes volatile items such as food and energy, rose to 1.1 percent in May from 0.8 percent in the previous month.

On a monthly basis, consumer prices increased 0.9 percent in May, after a 0.8 percent gain in April. Prices rose mostly for transport (1.8 percent), housing & utilities (1.8 percent), clothing & footwear (2.6 percent), food & non-alcoholic beverages (0.7 percent) and restaurants & hotels (0.4 percent).

The harmonised index of consumer prices advanced 2.1 percent from the previous year and 0.9 percent month-over-month.

Spain Inflation Rate Revised Higher to Over 1-Year High

INE | Gabriela Costa |
6/13/2018 8:05:55 AM