(Reuters) – The 12-month Spanish inflation rate rose to 8.7% from 8.3% in the preceding month. This was according to preliminary data released Monday by the National Statistics Institute (INE).

This reading exceeded the 8.3% predicted by Reuters analysts.

According to INE data, core inflation, which excludes volatile foods and energy prices rose to 4.9% in the past year, compared with 4.4% a few months earlier.

Spanish European Union Harmonized Inflation: 8.5% for 12 months ended May. That’s up from 8.3% just a month ago.