Spain's 12-month EU-harmonised inflation in May falls to lowest since October
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.
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Stock markets pushed higher in July, fuelled by progress on tariff negotiations and strong earnings, boosting investor sentiment. In early July, US president Donald Trump announced a further extension onto the 90-day delay of Washington imposing higher tariffs, that were unveiled on "Liberation Day" on 2 April. This pushed back the date for implementing higher tariffs on a number of trading partners from 9 July to 1 August, a deadline that was later extended to 7 August. Tariff deals were announced with the likes of Vietnam, Japan and the European Union over the course of the month. However, Trump then announced additional higher levies on India and Brazil at the end of July, shortly before his 1 August deadline. Stocks: Create your watchlist and portfolio Meanwhile, the second-quarter earnings season got into swing in July, with Wall Street banks and major companies globally reporting results. In late July, the "Magnificent 7" drew much of the market attention, with six of this group of tech giants having reported by the end of the month. While the companies delivered earnings beats, market reaction to the results was mixed, as investor expectations remain high around their performance. As for economic developments, data released in July showed that inflation in the US and UK had risen, with continued concerns that Trump's tariffs could add further to pricing pressures. And despite repeated calls from Trump to lower interest rates, the US Federal Reserve held interest rates steady for the fifth meeting in a row at the end of July. But investors didn't appear too deterred by this mixed backdrop as major markets ticked higher in July, with the US S&P 500 (^GSPC) now up 8.4% year-to-date, while the UK's FTSE 100 (^FTSE) has gained 11.8% so far in 2025. 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