Spanish CPI fell by 0.8%

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Wednesday, Jun 29 2016

According to the flash estimate published by the INE, the annual inflation of the CPI in June 2016 is -0.8%. Analysts wwre anticipating 1.0% decline. This indicator provides a preview of the CPI that, if confirmed, would imply an increase of two tenths in its annual rate, given that in May this change was -1.0%.

This increase is mainly explained by the increase in the prices of fuels (gas and diesel oil) and electricity. In turn, the annual change of the HICP flash estimate in June stands at ‒0.9%. If confirmed, the annual change of the HICP would increase two tenths as compared to the previous month.

Euro is currently being traded few points below 1.1070 level. Pair is likely to find support around 1.0970 handle and resistance above 1.11 level.

More in this category: « US GDP increased by 1.1% in Q1 Aussie slightly lower in an overnight trade »

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