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Spain's Consumer Prices Fall Less Than Estimated In May

Spain's consumer prices declined less than initially estimated in May, final data from the statistical office INE showed Friday.

Consumer prices decreased 0.9 percent annually, following a 0.7 percent drop in April. The annual rate was revised from -1 percent estimated on May 28.

This was the biggest fall since May 2016, when prices dropped 1 percent.

Month-on-month, consumer prices remained flat, as estimated, versus a 0.3 percent rise in April.

The harmonized index of consumer prices decreased 0.9 percent on year, following a 0.7 percent drop a month ago. This was the biggest decrease since June 2016 and came in line with the preliminary estimate.

Month-on-month, the HICP gained 0.1 percent after climbing 0.4 percent in April. According to flash estimate, prices had remained flat in May.

Data showed that transportation cost declined 8 percent, while food and non-alcoholic beverages cost climbed 3.5 percent. Housing cost was down 6 percent.

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