Spanish HICP MoM Prel (Mar) M/M 1.5% vs. Exp. 2.0% (Prev. 0.4%)

The preliminary Spanish HICP data for March shows a month-on-month increase of 1.5%, which is below the expected 2.0% and significantly higher than the prior 0.4%. This miss relative to expectations could signal a moderation in price pressures and might influence ECB policy discussions, particularly around interest rate trajectory and inflation outlook.