Spain Preliminary CPI for September +9.0% vs. +10.1% expected year on year

  • Before +10.5%
  • HICP +9.3% vs +10.1% y/y expected
  • Before +10.5%

Annual inflation in Spain slowed in the final month of Q3, with the stock at its lowest since May. This is a welcome development and even when you look at core inflation it is down to 6.2%y/y from 6.4%y/y in August. It’s a little comforting for the domestic economy and the ECB but make no mistake, 9% inflation is still very, very high.


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