BREAKING: Spanish CPI in line with expectations 📌

08:00 AM BST, Spain - Inflation Data for August:

• Spanish HICP: actual 0.0% MoM; forecast 0.0% MoM; previous -0.7% MoM;
• Spanish HICP: actual 2.4% YoY; forecast 2.4% YoY; previous 2.9% YoY;
• Spanish CPI: actual 0.0% MoM; forecast 0.0% MoM; previous -0.5% MoM;
• Spanish CPI: actual 2.3% YoY; forecast 2.2% YoY; previous 2.8% YoY;
• Core CPI: actual 2.7% YoY; forecast 2.7% YoY; previous 2.8% YoY;

The CPI data is mostly in line with expectations, and market reaction after publication is limited. The reading of 2.3% is already very close to the target and the historical average before the Covid-19 pandemic outbreak. In addition, it is worth noting the 0% month-on-month change in prices.