EUR/USD: Spain CPI confirmed at 4.9%, rising core adds to ECB hike pressure

The source reports no EUR/USD price move, pip figure or technical levels. Spain's final September inflation data confirmed the preliminary readings and showed price pressures accelerating. Headline CPI rose 4.9% y/y, matching the preliminary estimate and up from 4.3% in August. The harmonised HICP measure came in at 5.0% y/y, also in line with the flash reading and up from 4.6% previously. Core CPI climbed to 3.1% y/y from 2.9%, indicating that inflation is broadening beyond headline components. The source describes the report as confirming another uncomfortable rise in Spanish inflation and says firmer core inflation adds to pressure on the European Central Bank to raise rates. For EUR traders, the data from one of the eurozone's largest economies adds to the case for a more hawkish ECB stance, which is generally supportive for the euro. The confirmation of the flash figures means there was no new surprise in the final release.