Inflation in Spain falls more than expected to 2.9%

Inflation in Spain drops to 2.9%, the lowest level in almost 2 years, boosting hopes of a rapid deceleration in inflation across the eurozone.

May 31, 2023 . 10:08 PM

1 min read

Inflation in Spain falls to 2.9%, its lowest rate in almost 2 years.
The drop in fuel prices was the main factor pushing down inflation.
Weaker than expected inflation figures could result in fewer rate rises by the ECB.
Spain already had one of the lowest rates of inflation in Europe before the latest figures.
Core prices in the eurozone are expected to fall only slightly to 5.5% in May.