Spain's flash September inflation jumped to 4.9% year-on-year, above forecasts, as ECB chief Christine Lagarde told the European Parliament that price pressures are 'not yet embedded.' Weak eurozone sentiment and rising inflation expectations raise the stakes for Friday's harmonised print.
Spain’s EU-harmonised inflation printed a five-handle for the first time since February 2023, a tenth above consensus and lifting bets on further ECB hikes ahead of Friday’s euro-area figures. Source
Spain's flash September inflation print landed hours before European Central Bank (ECB) President Christine Lagarde told the European Parliament that euro area price pressures are "not yet becoming embedded." The timing undercuts her. National CPI accelerated to 4.9% year on year from 4.3% in August, blowing past the 4.6% consensus tracked on Investing.com, while the EU-harmonised measure, the Harmonised Index of Consumer Prices (HICP), rose to 5.0% from 4.6%, according to Spain's National Statistics Institute (INE).
