Spain’s June inflation holds at 3.6%, topping economists’ expectations
Spain’s EU-harmonized inflation stayed at 3.6% in June, above forecasts, even as France, Germany and Italy reported softer-than-expected readings ahead of euro zone data.
Spain’s inflation remained firmer than expected in June, with EU-harmonized consumer prices rising 3.6% from a year earlier, unchanged from May and above economists’ forecasts for 3.4%, according to data published Monday by statistics agency INE. Spain stood out among the largest euro zone economies as France, Germany and Italy all reported softer-than-expected preliminary June inflation readings, reinforcing expectations that overall euro zone inflation could ease and reduce near-term pressure on the European Central Bank, even though Reuters reported that four sources said the case for a modest later rate hike remains intact.
- harmonized inflation rate: A consumer price measure calculated using a common European methodology so inflation can be compared across euro zone countries.
- Core inflation: An inflation gauge that strips out some more volatile components to show underlying price pressures.
- ECB: European Central Bank, the central bank responsible for monetary policy in the euro area.