Latest data released by the National Statistics Institute - 29 July 2021
- Prior +2.7%
- HICP +2.9% vs +2.9% y/y expected
- Prior +2.5%
A modest bump once again in the Spanish annual inflation readings, reaffirming higher price pressures in general that are likely to be observed across the region. This continues to challenge the narrative of 'transitory' but it isn't going to get the ECB to move, though it does present some challenges to the economic recovery.
