- Prior +3.1%
- HICP +3.1% vs +2.9% y/y expected
- Prior +3.2%
Headline annual inflation might have moderated slightly to 3.0% but core annual inflation is seen increasing marginally to 2.6% (previously 2.5%). So alongside Germany, this is one spot that is still a bit of a sticking point for the ECB in trying to work towards getting back on the saddle with regards to rate cuts. Here is the trend in prices for Spain:
