The harmonised consumer price index (HCPI) for Spain was expected to have an annual variation rate of 2.9% in May 2023, which is nine tenths less than the rate observed in April. The country’s HCPI’s estimated monthly variation is -0.2%, on the other hand. The goal of the HCPI, a statistical indicator, is to offer a common average of inflation to facilitate cross-national comparisons.
According to the National Statistics Institute’s (NSI) flash indicator, the consumer price index (CPI) for Spain is expected to have annual inflation of 3.2% in May 2023.
The indicator serves as a foreshadowing of the CPI, whose confirmation would result in a reduction of nine tenths in the yearly rate, as in April this variance was 4.1 per cent. This development is mainly due to the decrease in fuel prices, which increased in May of the previous year.
The estimated annual variation rate of underlying inflation (general index excluding non-processed food and energy products) decreased five tenths, to 6.1 per cent. Consumer prices registered a rate of -0.1 per cent in May compared to April, as per the leading indicator of the CPI.
