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's headline national inflation rate fell to the lowest level in a year in December, dipping to 5.8%, the lowest since the 5.5% recorded in November 2021. However, any relief for policymakers at the European Central Bank could be short-lived, as a dive into the details shows core CPI accelerated by 0.6% m/m to a new euro era high of 6.9%.
HICP, the adjusted rate to ease cross eurozone comparisons, fell to 5.6%, down from 6.7% in November.
Eurozone HICP is expected to slow for a second month running, seen cooling to +9.6% y/y in the December flash due next Friday. Attention will now be firmly on the core print, and whether it slows from +5.0% y/y, with the latest Spanish core jump underlinining the chances of an upside surprise.
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.