Spanish CPI down by 1.1%

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Friday, Feb 27 2015

The estimated Spanish CPI in February 2015 fell by 1.1%, according to the flash estimate issued by the INE. Analysts were anticipating bigger decline by 1.5%. This indicator provides a preview of IPC which, if confirmed, would imply an increase of two tenths in the annual rate, compared with January when CPI fell by 1.3%. This increase is mainly explained by the higher prices of fuels (diesel and gasoline).

Separate report on French Consumer Spending showed 0.6% increase,beating market forecasts on 0.3% decrease. This rise resulted mainly from brisk purchases of cars and spending on gas and electricity. However, heating and fuel consumption declined markedly.

However, data was not of any major impact on the markets, with euro currently being traded at 1.12 handle. Pair is likely to find support around 1.1150 and resistance near 1.1250 level. Later today, German CPI figures are scheduled for a release.

More in this category: « U.S. CPI declined 0.7% in January Aussie little changed in a steadier morning session »

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