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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SPAIN DATA
MNI (London)
SPAIN AUG FLASH HICP +0.1% M/M (FCST +0.1%); JUL -0.6% M/M
SPAIN AUG FLASH HICP +10.3% Y/Y (FCST +10.3%); JUL +10.7% Y/Y
- Spanish flash headline HICP was in line with market expectations in the August release, slowing by 0.4pp to +10.3% y/y. The month-on-month inflation rate all but stalled at +0.1% m/m, following the -0.6% m/m deflation seen in July.
- The national CPI reading saw similar moves, also softening by 0.4pp in the annualised print, bringing it 0.3pp lower than anticipated at +10.4% y/y.
- The key driver of softer price growth this month was due to the fall in fuel prices. Electricity, food, hospitality and tourism continued to see prices increase.
- As such, core inflation is seen 0.3pp higher at +6.4% y/y in the August flash, a 1993 high. This confirms the need for another hike from the ECB at the September 8 meeting, with policymakers seemingly set to debate an increase of 50 0r 75 bps.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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