- Prior +9.8%
- HICP +8.3% vs +9.0% y/y expected
- Prior +9.8%
The headline reading may offer some relief for the ECB as Spanish inflation is seen cooling off from a near 40-year high, reflecting an easing in fuel and electricity prices. The drop is by more-than-expected but continues to remain elevated. That said, the details isn't quite as rosy with core inflation rising from 3.4% y/y in March to 4.4% y/y in April. That is largely driven by higher food and beverage prices.
