Spain October 2025 Final Harmonized CPI YoY: Bullish for Euro

On September 12, 2025, Spain’s National Statistics Institute released the final year-on-year Harmonized Index of Consumer Prices (HICP) for October. The actual, forecast, and previous values were not provided.Definition: The Harmonized Index of Consumer Prices (HICP) is the most widely used indicator for measuring inflation. Eurostat has standardized the compilation of consumer price indices across EU member states. This index is similar to the Consumer Price Index (CPI) but includes additional items such as personal computers, new cars, and airline tickets, while excluding private housing and local government taxes. Generally, an increase in HICP signals a higher likelihood of the Bank of Spain raising interest rates to curb inflation, which is bullish for the euro. Conversely, a decline may prompt rate holds or cuts, which is bearish for the euro.This data has an importance rating of 1, is calculated using the HICP methodology, and is released monthly. The next publication date has not been provided.

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