Spanish consumer prices decreased for the third straight month in October at a faster-than-expected pace, preliminary data from the statistical office INE revealed Thursday.
The consumer price index fell 0.7 percent year-over-year in October, exceeding economists’ expectations for a 0.6 percent drop. However, it was slower than the 0.9 percent decline in September.
On a monthly basis, consumer prices rose 0.7 percent in October, in line with expectations.
The harmonized index of consumer prices, or HICP, fell 0.9 percent annually in October, slower than September’s 1.1 percent decline. The figure was also matched with consensus estimate.
Separately, the INE announced that retail sales went up 0.6 percent month-on-month in September, faster than previous month’s 0.1 percent slight increase.
On an annual basis, retail sales climbed a seasonally and calendar-adjusted 4.3 percent in September, following a 3.1 percent gain in August. The expected rate growth was 3.0 percent.
The material has been provided by InstaForex Company – www.instaforex.com