Financial News: Spain Inflation Unexpectedly Rises In January

Spain Inflation Unexpectedly Rises In January

01/30/2023 - 03:37:00 (RTTNews)

(RTTNews) - Spain consumer price inflation unexpectedly accelerated in January, flash data from the statistical office INE revealed on Monday.

Driven by higher fuel prices, consumer price inflation rose to 5.8 percent in January from 5.7 percent in December, while the rate was forecast to ease to 4.9 percent.

Likewise, EU harmonized inflation increased in January, to 5.8 percent from 5.5 percent a month ago. The expected rate was 4.7 percent.

Underlying consumer prices that excludes energy and unprocessed food, advanced at a faster pace of 7.5 percent in January after rising 7.0 percent in the previous month. On a monthly basis, consumer prices fell 0.3 percent, in contrast to the 0.2 percent increase a month ago. At the same time, the harmonized index of consumer prices dropped 0.5 percent.

Eurozone flash inflation data is due on February 1. Economists expect inflation in the currency bloc to ease marginally to 9.1 percent in January from 9.2 percent in December.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Taiwan Export Orders Continue To Fall In February (06 min(s), 32 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (02 hr(s), 03 min(s), 32 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (03 hr(s), 30 min(s), 32 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (04 hr(s), 10 min(s), 32 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»

China Retains Benchmark Lending Rates As Expected (04 hr(s), 29 min(s), 32 sec(s) ago)
(RTTNews) - China retained its benchmark lending rates for the seventh straight month on Monday af ...Full Story»

China Loan Prime Rate Due On Monday (44 min(s), 28 sec(s) ago)
(RTTNews) - The People's Bank of China will announce its latest loan prime rate numbers, highl ...Full Story»

U.S. Consumer Sentiment Unexpectedly Drops In March, Inflation Expectations Dip (25 min(s), 28 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. fell for the first time in four months in March, accord ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged At 7.50% (19 min(s), 28 sec(s) ago)
(RTTNews) - Russia's central bank decided to keep its key interest rate unchanged for the four ...Full Story»