The Spanish statistical office INE released its final consumer price inflation data on Tuesday. Consumer price inflation in Spain was up 0.5% in May, down from the preliminary reading of a 0.6% growth, after a 0.7% rise in April.

The monthly rise was mainly driven by an increase in communications, which climbed 2.4% in May.

On a yearly basis, consumer prices fell by 1.0% in May from a year ago, in line with preliminary reading, after a 1.1% decline in April.

The annual decline was mainly driven by a drop in the prices of housing and transport.