- Jonathan Loynes, chief European economist at Capital Economics
Consumer inflation in Spain, the Euro zone's fourth biggest economy, unexpectedly declined in December, sending another warning signal to the European Central Bank. The annual consumer price index came in at 0.0%, the INE reported, against economists' expectations for a 0.1% gain. In November, the index dropped 0.3%. Measured on a monthly basis, the reading slid 0.3% in December, after a 0.4% increase in the previous month. The EU-wide measure of inflation, or harmonized index of consumer prices, declined 0.1% annually in December, compared to a 0.1% climb predicted by economists. November saw the measure dropping 0.4%. The gauge dipped 0.4% month-on-month in December, exceeding economists' expectations for a 0.2% decline.
A separate report showed, Spain logged a current account surplus of 2,388 million euros in October, up from 1,695 euros million marked a month ago, the Bank of Spain said. Measured on an annual basis, the total current account balance in Spain showed a surplus of 2,388 million euros in October 2015, compared with 1,241 million euros recorded in the same month a year ago.
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