He Spain’s Consumer Price Index (CPI) fell by five-tenths in August, standing at 2.3% compared to 2.8% in July, according to the National Institute of Statistics. This is the lowest level in thirteen months. Despite the improvement, the figure has worsened market expectations, as a reduction to 2.2% was expected.
On a monthly basis, inflation has stagnated at 0% after falling 0.5% the previous month, meeting consensus forecasts.
The annual rate of underlying inflation fell by one-tenth to 2.7%. The Harmonized Index of Consumer Prices (HICP) placed its annual rate at 2.4%, five-tenths below the previous month.
Euro reaction
EUR/USD has tested daily lows already reached during the Asian session at 1.1006 following the release. At the time of writing, the pair is trading above 1.1011, virtually flat on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
