CdM | The Consumer Price Index (CPI) fell by two tenths of a percentage point in May, standing at 2% year-on-year, the lowest level since October 2024, when it stood at 1.8%, according to final data published on Friday by the National Statistics Institute (INE).
This figure is slightly higher than the provisional estimate, which predicted a drop of three tenths of a percentage point to 1.9%. Despite the difference, inflation has now fallen for three consecutive months.
Within the breakdown by groups, the leisure and culture section reduced its year-on-year rate to 0.5% —2.2 points less than in April— due to the decline in the prices of package holidays. Meanwhile, the housing group fell by four tenths of a point to 3.8%, thanks to the lower increase in electricity prices.
In contrast, food and non-alcoholic beverages increased their year-on-year rate by five tenths of a point to 2.5%, mainly due to higher fruit prices.
On the other hand, core inflation (which excludes unprocessed food and energy) moderated to 2.2%, two tenths less than in April, although above the overall index. This correction brings core inflation back to its moderate path after the upturn recorded in the previous month.
