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Spain’s consumer prices fall 1% in May

Spain’s consumer prices fall 1% in May

MADRID: Spain’s consumer prices fell by 1 percent in May when compared with the same month of a year earlier, according to advanced data of the Consumer Price Index (CPI) published on Monday by Spain’s Statistical Office (INE).

The figure was 0.1 percent higher than that of April, when prices fell by 1.1 percent year-on-year, the INE said, pointing out that prices of electricity had increased compared to the fall registered in 2015.

Spain’s consumer prices have been falling for five consecutive months on a year-on-year basis and the inflation rate was negative almost throughout the year 2015 except from the months of June, July and December with rates of 0.1 percent, 0.1 percent and 0 percent respectively.

The INE also reported that on a month-on-month basis, Spain’s consumer prices rose by 0.6 percent.