Spain January preliminary CPI +3.4% vs +3.1% y/y expected

<ul><li>Prior +3.1%</li><li>HICP +3.5% vs +3.1% y/y expected</li><li>Prior +3.3%</li></ul><p>This won't help with the thinking that the ECB might cut rates sooner rather than later. However, core annual inflation did at least ease further from 3.8% in December to 3.6% in January. But still, the headline numbers could suggest that price pressures are more resistant to start the new year.</p>

This article was written by Justin Low at www.forexlive.com.