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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
Spanish May PPI was -4.6% Y/Y NSA (vs a one tenth downwardly revised -6.7% prior). On a 3m/3m NSA basis, PPI also remained in deflation at -3.8% (vs -4.1% prior).
- Excluding energy, PPI rose 0.4% Y/Y (vs 0.0% prior) and 0.5% 3m/3m (vs 0.6% prior).
- Consumer and capital goods PPI each moderated to 0.4% 3m/3m in May (vs 0.7% and 0.8% prior respectively), while intermediate goods rose a touch to 0.5% (vs 0.4% prior).
- The recent development in core goods pipeline pressures (see chart) suggests non-energy industrial goods HICP disinflation should stall in the coming months.
- This is supported by the uptick in industry expected prices in the May EC business survey.
- Spanish flash June inflation is due on Friday, with analysts expecting a slight moderation in HICP to 3.5% Y/Y (vs 3.8% prior).
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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