Spain: Inflation decelerates in May
June 14, 2011
In May, consumer prices remained unchanged over the previous month after a 1.2% increase recorded in April, the largest monthly increase since October 2007. The monthly reading was the result of higher prices for clothing and footwear, which offset lower prices for transport as well as for leisure and culture. Annual inflation dropped from 3.8% in April to 3.5%, which was in line with the preliminary estimate released by the Statistical Institute on 30 May. The core inflation index, which does not include prices for unprocessed food and energy, rose 0.1% over the previous month, well below the 1.3% increase recorded in April. As a result of the subdued monthly increase, annual core inflation remained unchanged from April's 2.1%, the highest level since January 2009. According to a preliminary estimate released by INE on 30 June, annual inflation dropped to 3.2% in June, the lowest level since December 2010.