Annual inflation in Spain jumped to 8.7% in May from 8.3% the previous month, according to preliminary data released by the country’s statistical office (INE).
The measurement moved significantly higher than the average estimate of analysts in a Reuters survey, who expected that the consumer price index in the country would remain unchanged at 8.3%.
At the same time, the structural index, which does not include highly volatile food and energy prices, also rose to 4.9% year-on-year from 4.4% a month earlier, according to INE data.
This is the highest measure of structural inflation in the last 27 years, since 1995.
At European Union harmonized prices, inflation in Spain stood at 8.5% year-on-year, up from 8.3% a month earlier.
On a monthly basis, consumer prices in Spain increased by 0.8% according to the national measurement and by 0.7% in the harmonized one.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
