The National Institute of Statistics in Spain released the preliminary data for the Consumer Price Index (CPI) for February on Thursday morning, which showed a slower-than-expected acceleration in the country's overall inflation rate. According to the data, the overall Consumer Price Index recorded an increase of 3% in February on a year-on-year basis, compared to 2.9% recorded in January. However, this reading was lower than market expectations, which predicted a 3.1% growth in the Consumer Price Index. On a monthly basis, the Consumer Price Index in Spain rose by 0.4% in December compared to November, which recorded a monthly inflation rate of 0.2%. Additionally, the February reading was higher than analysts' expectations, which had forecasted a 0.3% increase in the monthly Consumer Price Index. At the same time, the annual core inflation rate in Spain was recorded at 2.9% in February, the same reading as the previous month. However, this was higher than analysts' expectations, which indicated a 2.8% increase in the core Consumer Price Index.
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