Final Spanish inflation to confirm flash estimate at -1.2% yoy

Spanish HICP inflation fell further from -0.5% yoy to -1.2% yoy in September, much lower than market expectations (-0.7% yoy). 

"Any changes are unlikely in final Spanish HICP inflation from its flash estimate of -1.2% yoy in September", forecasts Societe Generale. 

As the INE does not give any details, the final release should be awaited to look at the details. However, it did mention that the bulk of this fall in inflation is explained by the decrease in fuel prices (gas and diesel) and electricity.

"Looking ahead, Spanish HICP inflation should remain in negative territory until the end of the summer, averaging -0.7% for 2015 and 0.6% in 2016. The core metric should be 0.2% in 2015 before rising to 0.9% in 2016", added Societe Generale.