According to Jinshi Data, Spain's inflation rate fell to its lowest level in a year in August, with the annual CPI rising 2.4% in August, lower than the median forecast of economists. The main reasons were the decline in fuel costs and food prices.
The underlying pressure indicator, excluding energy and some food prices, fell to 2.7%. Analysts believe that this reflects the general downward trend in inflation rates in the 20 eurozone countries.
German inflation data due later today may also show a downward trend. Markets expect the ECB to cut rates again on September 12 and one or two more times this year.
