Spain’s annual inflation rate was revised slightly higher to 2% in May 2025, up from a preliminary estimate of 1.9%.
Despite the upward revision, inflation slowed for the third consecutive month, marking the lowest in seven months, down from 2.2% in April.
The main upward pressure came from food and non-alcoholic beverages, which rose by 2.5%, accelerating from 2% in April, with fruit prices leading the increase.
In contrast, the largest downward contributions came from recreation and culture, where inflation slowed to 0.5% due to falling prices of tourist packages, and from housing costs, which prices increased at a slowed 3.8%, driven primarily by lower electricity prices.
On a monthly basis, the CPI edged up 0.1%, exceeding the initial estimate of a flat reading, though still marking the smallest monthly increase since September last year.
Meanwhile, the annual core inflation rate slowed to 2.2%, slightly higher than the preliminary estimate of 2.1%, but down from 2.4% in April.