Financial News: Spain Inflation Eases To 3.4%

Spain Inflation Eases To 3.4%

06/28/2024 - 07:11:00 (RTTNews)

(RTTNews) - Spain's consumer price inflation eased for the first time in four months in May, though slightly, flash data from the statistical office INE showed on Friday.

The consumer price index registered an annual increase of 3.4 percent after climbing 3.6 percent in April. The expected inflation rate was 3.3 percent.

Meanwhile, EU harmonized inflation moderated less-than-expected to 3.5 percent in June from 3.8 percent in the prior month. Inflation was expected to slow to 3.4 percent.

Core inflation, which excludes prices of unprocessed food and energy, remained stable at 3.0 percent.

The slowdown in inflation was mainly due to the fall in fuel prices, the agency said. Also, although to a lesser extent, food prices increased, but less than in the same month of the previous year.

On a monthly basis, the consumer price index rose at a stable rate of 0.3 percent. The expected rise was 0.2 percent.

The harmonized index of consumer prices climbed 0.3 percent, as expected, following a 0.2 percent rise in May.

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