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Inflation Fell for the Second Month in a Row in May whilst House Prices Rose Slightly

According to data published by the National Institute of Statistics (INE), the decrease in CPI during the month of May was one-tenth less than expected as the provisional data predicted a drop of three tenths.

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The Consumer Price Index (CPI) did not change during the month of May compared to April, although the annual variation stood at -0.9%, down by two tenths compared to the previous month and the highest negative rate since May 2016. Housing was one of the few groups that saw its prices rise, up very slightly (by 0.078%).

The explanation for the negative data is largely due to the lower prices of fuels and the effects of the pandemic.

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