Spain's flash February HICP inflation likely to fall to -1.6% yoy: Societe Generale

Quotes from Societe Generale Cross Asset Research:

-Spanish January HICP inflation came in at -1.5% yoy as the deceleration in oil and fuel prices materialized further. The energy component contributed to the vast part of the decline as it fellby 11.1% yoy in January after -8.4% yoy in December.

-Spanish food, services and goods prices remained fairly stable in January. For the February flash reading, we expect headwinds from oil prices to continue to weigh heavily on the headline number while food prices are expected to stabilize.