Spain CPI stood at + 0.8% in December, following estimates and preliminary data. This means an increase of + 0.4%. Core inflation, which eliminates more volatile elements, stands at + 1% year-on-year, just like the previous one. In inter-monthly terms 0% and + 0.3% above.
Inflation continues at a reduced level and reflects that there is no tension on the price side. In fact, it remains below the EU’ average (+ 1.3% in December), which allows Spain to continue gaining competitiveness via prices.
The impact on the market will be moderate.
