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Spain inflation holds steady in June as core slips slightly

June headline CPI stayed at 3.2% y/y, while core eased to 2.9%, keeping pressure on the ECB as rates stay tied to euro-area and global risks.

Reported · Written up by our desk · Central Banks

Spain’s final inflation data for June showed headline annual inflation holding at 3.2%, unchanged from May, according to Forexlive. The release also confirmed June HICP at 3.6% y/y, matching the prior reading.

Core inflation eased marginally to 2.9% from 3.0% in May, with core prices still above the 2% level, the outlet said. Forexlive noted the ECB will have to stay mindful of underlying inflation strength alongside other euro-area countries such as Germany.

Forexlive said the June numbers, viewed across euro area data, may still give the ECB flexibility to pause in July. It added that the focus then shifts to what policymakers do in September, especially amid the risk backdrop including a renewed US-Iran war and signals that oil prices and yields are ticking higher.

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