La sagrada familia in Spain

Spain Inflation May 2023

Spain: Harmonized inflation falls in May

Harmonized inflation fell to 2.9% in May, following April’s 3.8%. Declining prices of transportation, fuels and housing and utilities were behind the deceleration.

The trend declined, with annual average harmonized inflation coming in at 6.7% in May (April: 7.2%). Moreover, core inflation fell to 6.1% in May from 6.6% in April.

Lastly, harmonized consumer prices fell 0.14% in May over the previous month, following the 0.46% increase seen in April.

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