Spain March preliminary CPI +2.3% vs +2.4% y/y expected

• Prior +3.0%
• HICP +2.2% vs +2.6% y/y expected
• Prior +2.9%

Core annual inflation was marked down to 2.0%, down from 2.2% in February. So, that's definitely a welcome development for the ECB. It may be slower than France and Italy, but the disinflation process in Spain is at least still progressing.