Spain June preliminary CPI -0.1% vs 0.0% m/m expected

Latest data released by the National Statistics Institute - 27 June 2019

• Prior +0.2%
• CPI +0.4% vs +0.6% y/y expected
• Prior +0.8%

• HICP -0.1% vs 0.0% m/m expected
• Prior 0.2%
• HICP +0.6% vs +0.7% y/y expected
• Prior +0.9%

Those are some disappointing readings coming from Spain as annual inflation (+0.4%) falls to its weakest level since September 2016. That certainly won't bear much good news for the ECB if the trend carries over to other parts of the region but on the front of it, the Saxony report appears to be slightly better at least.