Spain’s Inflation At 16-Month Low

Spain’s consumer price inflation eased more than expected to a 16-month low in January, preliminary data from the statistical office INE showed Wednesday.

Consumer price inflation halved to 0.5 percent in January from 1.1 percent in December. The rate was expected to ease to 0.9 percent. This was the weakest rate since September 2016, when prices gained 0.2 percent.

Month-on-month, the consumer price index fell 1.1 percent after staying flat in December. Prices were forecast to drop 1 percent.

Inflation, based on the harmonized index of consumer prices, came in at 0.7 percent versus 1.2 percent in December. Economists had expected inflation to ease to 0.8 percent.

On month, the HICP slid 1.5 percent compared to the expected decrease of 1.4 percent.
Source: RTT News