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Inflation in Spain, which reflects consumer price developments, slowed to 3.2 percent in May on an annual basis. This is according to the initial data of the National Statistical Institute (INE) in Madrid, published today and quoted by Reuters.

Annual inflation fell from April, when it reached 4.1 percent and was below analysts' forecasts polled by Reuters, who had forecast it to fall to 3.5 percent in May.

This is the lowest level of the indicator since July 2021, when it fell to 2.9 percent on an annual basis.

Spain's fall in inflation this month is mainly due to falling fuel prices and a slowdown in food prices, according to an analysis by the National Statistical Institute.

It reported an increase in May by 5.5 per cent year-on-year in sales in the Spanish retail sector. These data do not include the effect of rising prices for goods and services.

In March, retail trade in Spain grew by 9.9 percent, according to upward revised Spanish statistics.

Spain

inflation