Spain's estimated HCPI indicates 2.9% annual variation in May 2023

Spain’s estimated annual inflation of the consumer price index (CPI) in May 2023 is 3.2 per cent, according to the flash indicator prepared by the National Statistics Institute (NSI).

The indicator provides a preview of the CPI which, if confirmed, would mean a decrease of nine tenths in its annual rate, since in April this variation was 4.1 per cent. This development is mainly due to the decrease in fuel prices, which increased in May of the previous year.

The estimated annual variation rate of underlying inflation (general index excluding non-processed food and energy products) decreased five tenths, to 6.1 per cent. Consumer prices registered a rate of -0.1 per cent in May compared to April, as per the leading indicator of the CPI.

ALCHEMPro News Desk (NB)