Spanish CPI estimated to be 0.1% in June

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Monday, Jun 29 2015

Spanish CPI is estimated to be 0.1% in June 2015 , according to the flash estimate issued by the INE. This indicator provides a preview of IPC which, if confirmed, would imply an increase of three tenths in the annual rate, since in May this change was -0.2%. Analysts were expecting smaller increase by one tenth to -0.1%.

This increase is mainly explained by higher prices for electricity and food and non-alcoholic drinks. For its part, the annual variation of the HICP flash estimate in June stood at 0.0%. If this information is confirmed, the annual rate of HICP would increased three tenths from the previous month. Consumer prices in June registered a rate of 0.3% for the of May.

Data of course remained in the shadow of Greek concerns but after initial gap lower euro managed to rebound and is currently being traded above 1.1050 level. Pair is likely to find support around 1.0950 area and resistance above 1.11 handle. Later today, German CPI figures will be released.

More in this category: « PBoC once again cuts interest rates Net Lending to individuals rose less than expected »

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