Investing.com - Consumer price inflation in Spain fell into negative territory in July, underlining fears over deflationary pressures in the euro zone’s fourth largest economy, official preliminary data showed on Wednesday.
In a report, Instituto Nacional de Estadistica said that consumer prices fell by a seasonally adjusted 0.3% this month, compared to a 0.1% increase in June. Analysts had expected Spanish inflation to post a gain of 0.2%.
Following the release of the data, the euro was modestly lower against the U.S. dollar, with EUR/USD inching down 0.04% to trade at 1.3404.
Meanwhile, European stock markets were mixed. Spain’s IBEX 35 rose 0.3%, Germany's DAX fell 0.1%, France’s CAC 40 declined 0.45%, the Euro Stoxx 50 shed 0.1%, while London’s FTSE 100 slumped 0.1%.