After rising at their fastest level since 2012, inflation in Spain pulled back more than expected in March, flash data from the National Statistics Institute (INE) showed on Thursday.
According to INE, Spain's national consumer price index rose by 2.3 percent year-on-year in March, down from 3.0 percent in February. On a month-on-month basis, Spanish national consumer prices were flat, unchanged from the previous month.
European Union-harmonised inflation was 2.1 percent year-on-year, missing expectations in a Reuters’ poll for a reading of 2.7 percent and compared to a reading of 3.0 percent in February.
The Bank of Spain said on Thursday it expected consumer price rises seen at the beginning of the year to ease through the rest of 2017 and to be below 1.5 percent in 2018.
