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Spanish consumer prices fall again in November

Published 11/27/2014, 03:23 AM
Updated 11/27/2014, 03:23 AM
Spanish consumer prices fall 0.4% in November

Spanish consumer prices fall 0.4% in November

Investing.com - Consumer price inflation in Spain fell for the fifth consecutive month in November, underlining fears over deflationary pressures in the euro zone’s fourth largest economy, official preliminary data showed on Thursday.

In a report, Instituto Nacional de Estadistica said that consumer prices declined by a seasonally adjusted 0.4% this month, compared to a 0.1% drop in October. Analysts had expected Spanish inflation to fall 0.3% in November.

A separate report confirmed that Spain's economy grew 0.5% in the third quarter, in line with expectations and unchanged from a preliminary estimate.

On annualized rate, Spain's gross domestic product rose 1.6% in the third quarter, meeting forecasts and up from growth of 1.3% in the preceding quarter.

EUR/USD was trading at 1.2502 from around 1.2513 ahead of the release of the data, while EUR/GBP was at 0.7908 from 0.7914 earlier.

Meanwhile, European stock markets were mixed. Spain’s IBEX 35 tacked on 0.2%, Germany's DAX rose 0.1%, France’s CAC 40 dipped 0.1%, the DJ Euro Stoxx 50 rose 0.1%, while London’s FTSE 100 slumped 0.2%.

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