PrintScotiabank Says "Firm" Spanish Core Inflation Reinforces Prolonged ECB Rate Hold
BY MT Newswires | ECONOMIC | 12/30/25 08:45 AM EST08:45 AM EST, 12/30/2025 (MT Newswires) -- Spain's core consumer price index inflation held firmer than expected at 2.6% year over year, while the consensus was 2.5% consensus and the previous reading 2.6%, said Scotiabank after Tuesday's CPI data.
On a month-over-month basis, it was up by about 0.4% in seasonally unadjusted terms, noted the bank. Since it's seasonally unadjusted data, Scotiabank compared December to all prior Decembers and it shows this one was among the warmest on record.
Readings for other major eurozone economies and the eurozone tally will be available next week.
Markets barely reacted with only a "mild" cheapening bias across eurozone government bonds, probably because markets already expect no policy rate changes by the European Central Bank through the coming year with rate cuts done for the cycle, stated Scotiabank.
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