Inflation in Spain Well Above ECB Target

Spanish inflation accelerated further above the European Central Bank’s price stability mandate, coinciding with an increase in utility bills.

Consumer prices, calculated using an EU-harmonized method, rose 3 percent in February from a year earlier, according to preliminary data released by the Madrid-based National Statistics Office. Economists surveyed by Bloomberg predicted an increase of 3.1 percent. From January, prices fell 0.3 percent, with electricity costs contributing to the decline.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.