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MNI BRIEF: Bank Of Spain Lowers 2024 Inflation Projection

The Bank of Spain has lowered its 2024 inflation projections to 2.7% from 3.3% in December due to lower energy prices and the extension of government measures to keep food and energy bills down, it said in its macroeconomic projections published on Tuesday.

The projections for inflation in 2025 and 2026 were also revised down, to 1.9% (0.1 less than December) and 1.7% (0.2 less) respectively, the Bank said. (See MNI ECB WATCH: Rates On Hold, Pointer To Possible June Cut)

The Bank sees growth picking up in 2024 to 1.9% (0.3 more than in December), despite a worse-than-expected start to the year by the economy. Lower energy prices should support growth at 1.9% and 1.7% in 2025 and 2026, with projections for those years unchanged from December.

MNI Rome Bureau | +34-672-478-840 |
MNI Rome Bureau | +34-672-478-840 |

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