Spain Retail Sales Growth Accelerates in May

Retail sales in Spain rose 1.3% year-on-year in May 2026, following a 0.6% increase in April. Sales growth accelerated for non-food products (3.7% vs 2.3% in April), particularly personal equipment (3.4% vs 0.2%); household equipment (5.7% vs 2.7%) and healthcare products (2.6% vs 1.9%). Spending on food also picked up (2% vs 1.4%). On a seasonally adjusted monthly basis, retail trade increased by 0.6% in May, reversing a 1.5% decrease in the previous month.

Spain Inflation Rate Holds at 3.2% as Expected

Spain’s annual inflation rate remained unchanged at 3.2% in June 2026, matching the readings in May and April and meeting market expectations, according to preliminary estimates. Upward pressure came from electricity and gas prices, which increased more sharply than they did in June 2025. In contrast, motor fuels and lubricants for personal vehicles helped moderate inflation, as their prices declined compared with the increase recorded a year earlier. Meanwhile, the core inflation rate eased to 2.9% from an upwardly revised 3.0% in May. On a monthly basis, the CPI rose 0.6%, following a 0.1% rise in May. Considering the EU-harmonised CPI, the annual inflation rate also steadied at 3.6% and the monthly rate also increased to 0.6% from 0.1%.

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