Spain's annual inflation rate was at 3.2% in May 2026, unchanged from the prior month and matching the preliminary estimate. Upward pressure from prices of transportation (7.4% vs 6.5% in April) and recreational activities, sport, and culture (2.6% vs 0.7%) was counterbalanced by softer food inflation (2.2% vs 2.6%) and falling clothing and footwear prices (-1.1% vs 1.4%). The core inflation rate, which excludes volatile items such as food and energy, ticked higher to 2.9% from 2.8% in the prior month. Meanwhile, the EU-harmonized annual rate edged up to 2.9% from 2.8% in April, also in line with expectations. On a monthly basis, consumer prices edged up 0.1%, down from a 0.4% increase in April, and the harmonized index also increased 0.1%, after a 0.7% rise in the month before, both matching early estimates.