Spain’s inflation slows for the first time in 11 months

Spain’s inflation slows for the first time in 11 months

Spain’s inflation slowed for the first time in 11 months in March on the back of the retreat in oil prices over the month.

Annual consumer price index cooled to 2.3 percent in March from 3.0 percent in February, compared to analysts’ forecasts of 2.6 percent.

So far, crude oil has dropped 8.4 percent in March.

Euro area CPI may retreat to 1.8 percent in March from 2.0 percent in February, data due on Friday may show.

As of 10:02 GMT, the euro slipped for a third straight session versus the U.S. dollar to 1.0735 after opening today at 1.0764.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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