Spain's consumer prices rose in May, it is the fastest pace since April 2017 exceeding the European Central Bank's target as risen in fuel costs after a year earlier decline. EU-based consumer price index rose 2.1% year-on-year against expectations of a 1.7%, while the April reading rose 1.1%.
Spain is the first major economy in the euro zone to release inflation figures for May, followed by Germany on Wednesday and is expected to rise to 2%. The weak inflation figures encouraged the ECB to keep interest rates at record lows.
