Spain CPI Falls As Estimated In May

(RTTNews) - Spain's consumer prices declined as estimated in May, the statistical office INE said Tuesday.

Consumer prices decreased 1 percent year-on-year, which was the fifth consecutive fall in prices. Prices had declined 1.1 percent in April.

On a monthly basis, consumer prices gained 0.5 percent after rising 0.7 percent. The statistical office confirmed annual consumer price figures for May but revised down monthly inflation from 0.6 percent.

At the same time, the harmonized index of consumer prices fell 1.1 percent versus a 1.2 percent drop in the previous month and matched preliminary estimate.

The HICP moved up 0.5 percent month-on-month as estimated in May.