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Financial News: Spain Consumer Prices Fall At Slower Pace In

Spain Consumer Prices Fall At Slower Pace In June

06/29/2020 - 04:22:00 (RTTNews)

(RTTNews) - Spain's consumer prices declined for the third straight month but the pace of annual decrease slowed in June, preliminary data from the statistical office INE showed Monday. The annual decline in consumer prices slowed to 0.3 percent from 0.9 percent in the prior month. The 0.9 percent decrease posted in May was the biggest in four years.

The slowdown was driven by higher costs of fuel and electricity costs. At the same time, food cost grew at a slower pace of 2.8 percent in June after climbing 3.5 percent in May.

Month-on-month, consumer prices advanced 0.5 percent after staying unchanged in May.

The harmonized index of consumer prices declined 0.3 percent annually, but slower than the 0.9 percent drop logged a month ago. This was the third consecutive decrease in prices.

On a monthly basis, the HICP rose 0.4 percent after rising 0.1 percent in May.

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