Spanish inflation unexpectedly slows, nearing its lowest level in two years

Spanish inflation unexpectedly slows, nearing its lowest level in two years

Spanish inflation slowed by more than anticipated, supporting the European Central Bank officials who say the continent’s historic price spike is fading and interest-rate increases can soon end.

May’s reading moderated to 2.9% — the least since July 2021 — as fuel costs fell and the growth in food prices eased. The result follows April’s uptick to 3.8% and is well below the 3.3% median estimate in a Bloomberg survey of economists.

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