MADRID (Reuters) -Spain’s European Union-harmonised 12-month inflation rate fell in May to its lowest level since October, preliminary data from the National Statistics Institute (INE) showed on Friday, as falling prices for leisure and culture helped alleviate other hikes.
Inflation eased to 1.9% in May from 2.2% in the period through April, INE said. The rate was not that low since hitting 1.8% in October.
Transportation prices fell and a the growth of electricity prices was slower than in the same month of the previous year, it added.
The 12-month EU-harmonised inflation was below the 2.0% expected by analysts polled by Reuters.
Core inflation, which strips out volatile fresh food and energy prices, was 2.1% year-on-year, the INE data showed.
Spain’s 12-month national inflation fell to 1.9%, down from 2.2% in April. Analysts polled by Reuters expected a 2.0% rate.
(Reporting by Mireia Merino and Javi West Larrañaga, editing by Inti Landauro)
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