Monday 29 June 2009

DATA SNAP: Spain June Flash HCPI -1% On Yr Vs -0.9% In May

Mon, Jun 29 2009, 07:00 GMT

DATA SNAP: Spain June Flash HCPI -1% On Yr Vs -0.9% In May

By Jonathan House

MADRID (Dow Jones)--The decline in Spain's consumer prices continued to accelerate in June, preliminary data from Spain's National Statistics Institute, or INE, showed Monday.

In a statement, the INE said Spain's European Union-harmonized index of consumer prices fell 1% on the year in June after falling 0.9% in May.

A Dow Jones Newswires survey of three economists had forecast a 1.1% annual fall in June consumer prices.

In March, Spain became the euro zone's first country to report an annual decline in consumer prices during the global economic recession.

Price growth has eased sharply across the trading area, allowing the European Central Bank to slash interest rates to support the economy.

European Union statistics agency Eurostat will publish an estimate of June euro-zone inflation Tuesday and the European Central Bank will hold its monthly rate-setting meeting Thursday.

INE Web site:

-By Jonathan House, Dow Jones Newswires; +34 91 395 8121;

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(END) Dow Jones Newswires

June 29, 2009 03:00 ET (07:00 GMT)

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