Spain inflation meets forecasts as core CPI rises
Spain's final Consumer Price Index (CPI) increased 4.9% year over year, matching market expectations and the previous reading.
Monthly CPI inflation also came in at 0.3%, in line with forecasts. The Harmonised Index of Consumer Prices (HICP) rose 5.0% annually and 0.6% monthly, both matching expectations.
However, annual core CPI inflation accelerated from 2.9% to 3.1%, indicating persistent underlying price pressures despite the absence of surprises in headline inflation.
The increase in core inflation could reinforce a cautious monetary policy outlook for the European Central Bank (ECB).
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