Spanish CPI down less than expected

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Monday, Mar 30 2015

Spanish annual inflation is estimated to be down by 0.7%, according to the leading indicator developed by the INE. Analysts were forecasting 1.0% decrease. This indicator provides a preview of IPC which, if confirmed, would imply an increase of four tenths in the annual rate, since in February this change was -1.1%.

This increase is mainly explained by the higher prices of fuels (diesel and gasoline). The annual variation of HICP is estimated at -0.7%. If this information is confirmed, the annual rate of HICP would increase five tenths from the previous month.

Despite the figures euro declined in the European part of the session and is currently being traded few points above 1.0830 level. Pair is likely to find support around 1.08 handle and resistance above 1.09 area. Later today, German CPI figures are scheduled for a release.

More in this category: « USD - Major events in the week ahead Aussie lower in a steadier beginning of the week »

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