Latest data released by the National Statistics Institute - 28 December 2018
- Prior -0.1%
- CPI +1.2% vs +1.5% y/y expected
- Prior +1.7%
- HICP -0.5% vs -0.1% m/m expected
- Prior -0.2%
- HICP +1.2% vs +1.6% y/y expected
- Prior +1.7%
Notable misses across the board and this won't exude confidence as the ECB looks to talk up its inflation outlook. I reckon softer energy prices is one of the main causes for the drop in headline inflationary pressures here. We'll have to wait on the final readings for further confirmation but it's not looking bright on the front of it to say the least.
EUR/USD rather unphased at 1.1460 still. EUR/GBP at 0.9055, little changed on the day.
