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Spanish CPI at an annual rate of -0.3%

Friday, Nov 27 2015

The annual rate for the overall Spanish Consumer Price Index (CPI) in October was ‒0.7%, two tenths higher than that registered in the previous month. Analysts were predicting  annual rate of -0.5%. The annual change of core inflation increases one tenth, reaching 0.9%. The monthly change of the overall index is 0.6%.

The groups that most contributed to this variation were transport, whose rate increased seven tenths up to –5.7% and communications, whose rate stood at 0.5%, more than one point higher that that registered in the previous month. This was due to the decrease in the prices of phone services in October of the previous year more than this month.

Euro is currently being traded around 1.0610 level. Pair is likely to find support around 1.06 handle and resistance above 1.0630 area. Later today, German Consumer Confidence figures are scheduled for a release.

Last modified on Friday, 27 November 2015
More in this category: « HSBC believes that ECB will cut rates and extend QE UK House Prices up by 0.1% in November »

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