In May, the Consumer Price Index, or IPC, decreased to two percent, its lowest level since October twenty twenty-four. This marks the third consecutive drop in inflation, escalating from three percent in February. Lower prices for tourism services, particularly in transport, contributed significantly to this decline, as did a reduction in electricity costs compared to the previous year.

The core inflation, excluding volatile food and energy prices, slightly reduced to two point two percent. This shows a return to moderation after an increase in April. However, it remains two tenths above the general IPC.

Notably, food prices have risen, with the annual rate for ‘Alimentos y bebidas no alcohólicas’, or food and non-alcoholic beverages, climbing to two point five percent. This increase, especially in fruit prices, marks a significant departure from the price reductions in tourism packages observed in the same month last year.

Regional disparities persist, with all areas reporting positive inflation rates by the end of May. The highest rates were recorded in the Balearic Islands and the Basque Country at two point four percent, while the lowest rate was in the Region of Murcia, which stood at one point three percent.