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Financial News: Spain's Consumer Prices Fall Less Than Estimated In

Spain's Consumer Prices Fall Less Than Estimated In May

06/12/2020 - 06:58:00 (RTTNews)

(RTTNews) - Spain's consumer prices declined less than initially estimated in May, final data from the statistical office INE showed Friday.

Consumer prices decreased 0.9 percent annually, following a 0.7 percent drop in April. The annual rate was revised from -1 percent estimated on May 28.

This was the biggest fall since May 2016, when prices dropped 1 percent.

Month-on-month, consumer prices remained flat, as estimated, versus a 0.3 percent rise in April.

The harmonized index of consumer prices decreased 0.9 percent on year, following a 0.7 percent drop a month ago. This was the biggest decrease since June 2016 and came in line with the preliminary estimate.

Month-on-month, the HICP gained 0.1 percent after climbing 0.4 percent in April. According to flash estimate, prices had remained flat in May.

Data showed that transportation cost declined 8 percent, while food and non-alcoholic beverages cost climbed 3.5 percent. Housing cost was down 6 percent.

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