Investing.com - Consumer price inflation in Spain remained in negative territory for the ninth consecutive month in March, underlining fears over deflationary pressures in the euro zone’s fourth largest economy, preliminary data showed on Monday.
In a report, Instituto Nacional de Estadistica said that consumer prices fell by a seasonally adjusted 0.7% this month, compared to expectations for a decline of 1.0%. Consumer prices fell 1.1% in February.
EUR/USD was trading at 1.0840 from around 1.0866 ahead of the data, while EUR/GBP was at 0.7318 from 0.7335.
Meanwhile, European stock markets were mostly higher. Spain’s IBEX 35 jumped 0.8%, Germany's DAX rose 1.2%, France’s CAC 40 tacked on 1%, the Euro Stoxx 50 rallied 1.1%, while London’s FTSE 100 advanced 0.6%.
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Spanish flash CPI falls 0.7% in March
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