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MNI: SPAIN DATA: Flash HICP (May 2019)...............>

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MNI: SPAIN DATA: Flash HICP (May 2019)
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- HICP: 0.2% m/m, 0.9% y/y; Previous (Apr): 1.6% y/y 
- CPI: 0.2% m/m, 0.8% y/y; Previous (Apr): 1.5% y/y
- Annual inflation fell back to its lowest level since Jan 2018 in May
- INE highlights a substantial downward impact stemming from softer y/y
electricity & fuel price inflation
- Softer services inflation is also likely to have been a factor in the 0.7pt
decline in the headline rate...
- ... as the Apr Easter price hikes began to unwind in May

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