Spain's consumer prices fall 1.0 pct in May

Spain's consumer prices fell 1.0 percent in May when compared with the same month a year earlier, according to the Consumer Price Index (CPI) published on Tuesday by Spain's Statistical Office (INE).

The figure is 0.1 percent higher than the annual inflation rate of April that stood at -1.1 percent.

According to the INE, housing prices fell by 6.5 percent in May year-on-year, prices related to leisure and culture fell by 1.9 percent and those related to transport fell by 4.9 percent.

Meanwhile, communications prices increased by 1.8 percent and those related to food and non-alcoholic drinks rose by 1.7 percent.

Spain's consumer prices have been falling for five consecutive months on a year-on-year basis, after falling by 0.3 percent in January, by 0.8 percent in February and March, and by 1.1 percent in April.

On a month-to-month basis, Spain's prices increased by 0.5 percent from April to May, with transport prices increasing by 1.5 percent, clothing and shoes prices by 0.3 percent, housing prices by 0.2 percent, and hotel industry prices rising by 0.2 percent.

On the other hand, prices of items related to leisure and culture fell by 0.2 percent. Endit