Spain's Annual Inflation Holds Steady at 4.9% in October

Spain's annual headline consumer price inflation held steady at 4.9% in October, matching September's reading and market expectations, according to flash data from the National Statistics Institute. Core inflation, which excludes unprocessed food and energy, remained unchanged at 3.1% year-over-year. The EU-harmonised index of consumer prices rose 4.9% year-over-year and 0.5% month-over-month, down slightly from 5.0% in September. Persistent price pressures, driven by firmer gas, liquid fuels, and package holidays despite drops in vehicle fuel, add to policy challenges for the European Central Bank.