Consumer prices in Spain rose in May by 2.1%

In May 2018, consumer prices in Spain, according to the standards of the European Union, increased by 2.1% in annual terms, preliminary data of the statistical department INe showed. Compared with the growth of 1.1% in the previous month, May inflation accelerated. Analysts had expected inflation at 1.7%. Relative to the previous month, consumer prices rose by 0.9% after the April growth of 0.8%. The increase in prices in May is caused by a sharp rise in price of gasoline, diesel fuel and electricity due to rising oil prices. INe also reported that in April, retail sales in Spain, taking into account the seasonal factor, increased by 0.5% year-on-year, after rising 1.6% a month earlier.

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