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MNI BRIEF:  Bank of Spain Cuts '23 Inflation Outlook To 3.2%

(MNI) Rome

Spanish headline Inflation will average 3.2% in 2023, according to Bank of Spain’s quarterly economic projections, a big drop from the March exercise that saw that number at 3.7%.

In 2024 headline inflation will edge higher to 3.6%, as fiscal measures to ease energy prices is removed, before falling again in 2025 to 1.8%, the central bank said Monday. Core inflation for 2023 rises 2 tenths from March to 4.1%, then decreases to 2.1% and 1.7% in 2024 and 2025, respectively.

Growth this year is revised up to 2.3% (+0.7 percentage points from March) thanks to a slowdown of inflationary pressures and NGEU execution. For 2024 and 2025 growth remains practically unchanged at 2.2% (0.1 less) and 2.1%.

MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
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MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
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