CdM | The Consumer Price Index (CPI) fell by two tenths of a percentage point in May, standing at 2% year-on-year, the lowest level since October 2024, when it stood at 1.8%, according to final data published on Friday by the National Statistics Institute (INE). This figure is slightly higher than the provisional estimate, which predicted a drop of three tenths of a percentage point to 1.9%. Despite the difference,…
Link Securities | According to the monthly report published by the ECB, average inflation expectations in the Eurozone for the next 12 months rose in April for the second consecutive month to 3.1% and from 2.9% in March, standing at its highest level since February 2024. Inflation expectations for the next three years remained unchanged in April at 2.5%, while inflation expectations for the next five years stood at 2.1%…
Bankinter | The final CPI for April confirms 2.2% year-on-year, one tenth below the previous month. The underlying rate confirms the rise to 2.4% year-on-year from 2.0% previously. In month-on-month terms, the general rate rose 0.6% (versus 0.1% previously) and the underlying rate rose 1.0% (versus 0.4% previously). Analysis team opinion: Moderate fuel and electricity prices contributed to the moderation of the overall CPI in April. However, the core rate…
According to the final reading of the data, released by the National Statistics Institute (INE), the Consumer Price Index (CPI) in Spain rose by 0.1% in March compared to February. In year-on-year terms, Spain’s CPI rebounded by 2.3% in March (3.0% in February), a reading that coincided with its preliminary figure and with analysts’ expectations. In March and in year-on-year terms, the groups that stood out most for their influence…
Bankinter | Inflation (preliminary data) in Germany eases one-tenth in March to 2.2% (versus expected 2.2% versus previous 2.3%). Today the EMU CPI was published, standing at +2.2% versus the previous +2.3%. For now, inflation is improving in Germany, Spain (+2.3% versus +3.0% previously) and Portugal (+1.9% versus 2.4% previously), remains stable in France (+0.8%) and is picking up in Italy (+2.0% versus +1.6% previously). Indeed, in Portugal, the preliminary…
The National Institute of Statistics (INE) published that the consumer price index (CPI) in Spain rose by 0.4% in February compared to January, a reading that confirms its preliminary figure and aligns with expectations from analysts at FactSet. The groups with the most significant positive monthly impact on the monthly CPI rate were: i) Hotels, cafés, and restaurants, which showed a variation of 0.7%, due to the increase in prices…
The National Institute of Statistics (INE) published yesterday that, according to the preliminary reading of the data, the Consumer Price Index (CPI) in Spain rose by 0.4% in February compared to January. Year-on-year, the CPI in Spain increased by 3.0% in February (2.9% in January), a reading that was in line with expectations from the consensus of analysts at FactSet. This development is mainly due to the increase in electricity…
With the advance of the year-on-year CPI in the first month of 2025, inflation has recorded four consecutive months of increases, reaching its highest value since June, when it stood at 3.4%. The INE includes in the advance data of the CPI an estimate of core inflation (excluding unprocessed food and energy products), which decreased by two tenths in January, down to 2.4%. In monthly terms (January 2025 compared to…
The Consumer Price Index (CPI) rose by 0.4% in December compared to the previous month, increasing its year-on-year rate by four tenths to 2.8%, according to preliminary data released on Monday by the National Institute of Statistics (INE). The agency explains that the increase is due to the rise in fuel prices and, to a lesser extent, to the prices of leisure and culture, which increased more in December than…
Santiago Martínez Morando, Head of Economic and Financial Analysis at Ibercaja | According to preliminary data, CPI growth rebounded in Spain to 2.4% year-on-year in November from 1.8% in October and the low of 1.5% reached in September, which was the lowest level since March 2021. The CPI is still very much determined by the volatility of energy prices, and the National Statistics Institute (INE) points to the acceleration being…