Spain May preliminary CPI -1.0% vs -1.0% y/y expected

Latest data released by the National Statistics Institute - 28 May 2020

• Prior -0.7%
• CPI 0.0% vs 0.0% m/m expected
• Prior +0.3%

• HICP -0.9% vs -0.9% y/y expected
• Prior -0.7%
• HICP 0.0% vs -0.1% m/m expected
• Prior +0.4%

Spanish headline annual inflation continues to dive further into negative territory as price pressures stay more subdued amid the economic fallout from the virus outbreak. The drop here sees the headline reading slump to its weakest level since May 2016.