BREAKING: CPI in Spain in line with expectations

CPI inflation data and retail sales from Spain:

• Spanish CPI YoY Flash Actual 3.5% (Forecast 3.5%, Previous 2.6%)
• Spanish CPI MoM Flash Actual 0.2% (Forecast 0.2%, Previous 0.50%)
• Spanish HICP YoY Flash Actual 3.2% (Forecast 3.3%, Previous 2.4%)
• Spanish HICP MoM Flash Actual 0.6% (Forecast 0.6%, Previous 0.5%)
• Spanish Retail Sales SA YoY Actual 7.2% (Forecast -, Previous 7.3%)

Source: INE Spain Statistical Institute

The estimated annual inflation of the CPI in September 2023 is 3.5%, according to the flash indicator prepared by the NSI. This indicator provides a preview of the CPI which, if confirmed, would mean an increase of nine tenths in its annual rate, since in August this variation was 2.6%. This evolution is mainly due to the increase in electricity prices, which decreased in September 2022. Also noteworthy, albeit to a lesser extent, is the rise in fuel prices, compared with the decrease registered in September of the previous year.

Source: xStation 5