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 factory gate inflation slowed for a second consecutive month in May, but still still at historically elevated levels, the National Institute of Statistics said Monday. Prices rose 0.9% on month, which left the producer price index 43.6% above levels seen in May 2021. This months outturn slowed from a downwardly revised 44.5% in April and a record high 47.0% in March.
Core factory inflation also slowed, decelerating on an annual reading for the first time in more than a year, rising 15.3% on year ago levels.
The data will offer some respite to ECB policymakers, with a modest dip in the core rate, but, if reflected in overall EZ inflation readings later this week, the overall level is still at levels that will have the Governing Council starting the rate hiking cycle over the summer months.
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.