Spanish economy remains in deflation in May

Spain remained in a deflationary spell in May, with the country’s consumer price index edging only slightly higher from -1.1% year-on-year to -1.0%.

The largest contributions to the year-on-year rate of change came from housing (-6.5%), entertainment (-1.9%) and transport (-4.9%), according to the country's national office of statistics, INE.

In harmonised terms, the year-on-year rate of change in price gains was unchanged at -1.1%.

Versus the prior month, the consumer price index rose by 0.5%, while at ‘core’ level prices were up by 0.7% year-on-year.