He Spain's Consumer Price Index (CPI) has risen four tenths in the annual reading for March, rising to 3.2% from 2.8% in February, as reported by the National Institute of Statistics (INE). The figure has been in line with what was expected.
Monthly inflation has grown by 0.8% from the previous 0.4%, registering its largest increase in 13 months, specifically since February 2023.
The underlying CPI annual rate (which excludes food and energy) decreased two tenths to 3.3%. The harmonized inflationfor its part, rose to 3.3% annually from the previous 2.9%, worsening the forecasts that placed it at 3.2%.
Euro reaction
The Euro is weakening due to the strength of the Dollar. After the publication of the data, the EUR/USD has fallen to 1.0680, its lowest level in five months. At the time of writing, the pair is trading around this bottom, losing 0.43% on the day.
Source: Fx Street
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