Spanish CPI fell more than expected

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Friday, Feb 26 2016

According to the flash estimate published by the INE, the annual inflation of the CPI in February 2016 is -0.8%. Analysts were expecting 0.5% decrease. This indicator provides a preview of the CPI that, if confirmed, would imply a decrease of five tenths in its annual rate, given that in January this change was -0.3%.This decrease is mainly explained by the decrease in the prices of fuels (gas and diesel oil) and food and non-alcoholic beverages.

In turn, the annual change of the HICP flash estimate in February stands at ‒0.9%. If confirmed, the annual According to the flash estimate of the CPI, consumer prices registers a -0.3% variation in February, as compared to the month of January. In turn, the monthly change of the HICP flash estimate in February stands at -0.4%.

Euro is currently being traded few points above 1.1010 level. Pair is likely to find support around 1.0950 handle and resistance above 1.11 level. Later today, in the US session, GDP and Revised Consumer Confidence figures are scheduled for a release.

More in this category: « UK consumer confidence at the lowest level in over a year US GDP grew by 1.0% in Q4 »

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