Spain August preliminary CPI -0.5% vs -0.5% y/y expected

Latest data released by the National Statistics Institute - 31 August 2020

• Prior -0.6%
• CPI 0.0% m/m
• Prior -0.9%

• HICP -0.6% vs -0.6% y/y expected
• Prior -0.7%
• HICP 0.0% vs +0.1% m/m expected
• Prior -1.6%

Pretty much within expectations as Spanish inflation stays more subdued and headline inflation sits in deflation territory still. This just reaffirms softer price pressures in general across the region and will see the ECB maintain their current stance for the time being.