Spain March preliminary CPI +3.2% vs +3.2% y/y expected

• Prior +2.8%
• HICP +3.2% vs +3.3% y/y expected
• Prior +2.9%

The readings here may suggest that price pressures are perhaps a tad more persistent than the ECB may anticipate. That being said, core annual inflation in Spain did track lower still to 3.3% - down from 3.5% in February.