MADRID – The rise in food prices moderated again in May, causing inflation to fall to 3.2%. That is the lowest level in the past two years. This is according to final data from the Spanish National Institute of Statistics (INE).
The decline is due to lower fuel prices and a moderate rise in food prices for two consecutive months. Although inflation has decreased by nine-tenths compared to the previous month, underlying inflation is still above 6%.
After the increase in April, inflation fell again in May, confirming the trend of the first half of the year. The fall in energy prices is the main factor behind this moderation in prices. In addition, food prices have also started to stabilize over the past two months.
Food inflation remains at 12 percent
In fact, the data published on Tuesday indicates that some basic commodities such as milk, cheese, eggs and fish have fallen in price. Despite this, food inflation remains at 12%.