Inflation & Prices
Spanish Inflation Slows More Than Expected, Nears 2-Year Low
- Consumer prices rose 2.9% from year ago in May; est. 3.3%
- Data are first for this month from major euro-zone economies
Shoppers pass a Zara clothing store in Vigo, Spain.
Photographer: Brais Lorenzo Couto/BloombergThis article is for subscribers only.
Spanish inflation slowed by more than anticipated, supporting the European Central Bank officials who say the continent’s historic price spike is fading and interest-rate increases can soon end.
May’s reading moderated to 2.9% — the least since July 2021 — as fuel costs fell and the growth in food prices eased. The result follows April’s uptick to 3.8% and is well below the 3.3% median estimate in a Bloomberg survey of economists.