Spain’s consumer price inflation rose to its highest level in more than four years in May, preliminary data from the statistical office INE showed on Monday.
Consumer prices advanced 2.7 percent year-on-year in May, faster than the 2.2 percent increase seen in April. This was the highest rate since February 2017, when the rate was 3 percent.
Core consumer prices grew 0.2 percent annually after staying flat in April.
Inflation based on the harmonized index of consumer prices, came in at 2.4 percent, as expected, versus 2 percent in April.
Month-on-month, consumer prices grew 0.4 percent, but much slower than the 1.2 percent growth posted in April. The rate was forecast to remain unchanged at 1.2 percent. At the same time, monthly harmonized inflation held steady at 0.5 percent.
Final consumer price data for May is due on June 11.
The material has been provided by InstaForex Company – www.instaforex.com