Spain's inflation turned negative unexpectedly in January, the flash data from the statistical office INE revealed Friday.
Consumer prices fell 0.3 percent year-on-year in January, confounding expectations for a 0.1 percent rise. Prices had stayed flat in December after falling for four consecutive months.
Likewise, harmonized consumer prices slid 0.4 percent after easing 0.1 percent a month ago. Prices were expected to log another 0.1 percent drop in January.
On a monthly basis, consumer prices declined 1.9 percent, bigger than an expected decrease of 1.5 percent. Likewise, harmonized prices fell 2.5 percent versus expected decrease of 2 percent.
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