Inflation in Spain in May accelerated to 2.1% - Ester Holdings

Inflation in Spain in May accelerated to 2.1%

Investing.com – Consumer prices in Spain calculated according to the standards of the European Union in May rose by 2.1% in annual terms after a rise of 1.1% in the previous month, according to preliminary data from the Spanish Statistical Office (INe).

The result surpassed both the analysts’ average expectations (1.7%) and the boldest forecast (2%), the Financial Times notes.

For May, consumer prices went up by 0.9% after 0.8% in April.

The main reason for the price increase in May, INe called the increase in oil prices, which caused a sharp rise in price of gasoline and diesel fuel, as well as electricity.

The final data on inflation in Spain for May will be published by the statute on June 13.

In addition, INe reported that retail sales in Spain in April, adjusted for seasonal adjustments, increased by 0.5% compared to the same month last year, after rising by 1.6% in March.

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