Spain September preliminary CPI +3.5% vs +3.5% y/y expected

  • Latest data released by INE - 28 September 2023
  • Prior +2.6%
  • HICP +3.2% vs +3.3% y/y expected
  • Prior +2.4%

The readings here serve as another reminder that inflation pressures may prove to be much stickier than anticipated. But the good news at least is that core annual inflation is seen easing slightly further to 5.8% from 6.1% in the month before.

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