Spanish CPI down by 0.9%

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Tuesday, Sep 29 2015

The leading indicator of the Spanish CPI annual variation stood at -0.9% in September, five tenths lower than that recorded in August. Analysts were predicting 0.6% decrease. The annual rate of HICP flash is -1.2%. The estimated CPI in September 2015 annual inflation is 0.9%, according to the leading indicator developed by the INE.

This indicator provides a preview of CPI, if confirmed, would imply a decreased five tenths in the annual rate, since in August this variation It was -0.4%. Consumer prices in September recorded a rate of -0.3% over the month August, the leading indicator of the CPI. This decrease is mainly explained by lower prices of electricity and oil.

Euro is currently being traded around 1.1250 area. Pair is likely to find support around 1.12 handle and resistance above 1.1320 level. Later today, in the US session, CB Consumer Confidence figures are scheduled for a release.

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