Spain’s CPI inflation rates for January were confirmed at 0.2% MoM and 2.9% YoY, and annual core CPI inflation was confirmed at 2.4% YoY.

• HICP inflation confirmed at -0.1% MoM and 2.9% YoY.
• Housing (+3.8% MoM) made the largest monthly impact as a result of a strong increase in electricity prices.
• Transport (+0.8% MoM) made the second largest monthly impact with has prices rising strongly as well.
• Clothing (-11.2% MoM) and leisure & culture (-3.3% MoM) saw large declines