FX.co ★ Spain Inflation Rises As Estimated In May

Spain's inflation experienced an uptick in May, driven by increased housing and transportation costs, according to final data from the National Statistics Institute (INE) released on Thursday.

The consumer price index showed an annual rise of 3.6 percent, consistent with the preliminary estimate released on May 30, and up from 3.3 percent in April.

Meanwhile, core inflation saw a slight increase, reaching 3.0 percent from the previous month's 2.9 percent.

Housing costs experienced an annual growth of 1.2 percent, while transportation costs surged by 3.8 percent. Conversely, prices for food and non-alcoholic beverages had a dampening effect on the overall annual inflation rate.

On a month-to-month basis, consumer prices grew by a slower 0.3 percent, matching earlier estimates, after a 0.7 percent increase in April. In terms of EU-harmonized inflation, the rate accelerated to 3.8 percent in May, up from 3.4 percent in the previous month.

The harmonized index of consumer prices saw only a 0.2 percent month-on-month increase, following a 0.6 percent rise in April. Both the annual and monthly figures aligned with preliminary estimates.