Spain | The lower core inflation sharpens overall drop in April

Summary

In April inflation rate of decline deepened to -1.1% YoY, as the increase in core inflation moderated to 0.7% YoY and the energy continued pushing down hard (-15 , 1% YoY). Forward, we expect the positive trend in the core component to be maintained, and that the pressure on the price of raw materials attenuate progressively

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