Spain April preliminary CPI +1.0% vs +1.1% m/m expected

Latest data released by the National Statistics Institute - 30 April 2019

• Prior +0.4%
• CPI +1.5% vs +1.5% y/y expected
• Prior +1.3%

• HICP +1.1% vs +1.1% m/m expected
• Prior +1.4%
• HICP +1.6% vs +1.5% y/y expected
• Prior +1.3%

Much like the French readings earlier, the inflation readings here are more or less in-line with expectations and shows a notable improvement relative to March. Be mindful that Easter is a bit late this year so plenty of the pricing patterns for that will fall in April so that is a factor to consider for the mild boost in inflationary pressures.