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Nov 01 2012

Higher VAT Hits Spanish Consumer

ECRI has just updated its Spanish Future Inflation Gauge (ESFIG). The value of this forward-looking gauge lies in its ability to predict cyclical turns in Spanish inflation.

With September’s increase in the value-added tax (VAT) helping push the inflation rate to a 17-month high in October, Spain now has spiking inflation to worry about. Furthermore, year-over-year retail sales fell 11% in September.

The ESFIG’s latest update provides insights into the future trajectory of underlying Spanish inflation pressures, indicating whether the Spanish consumer can expect inflation to rise further, or if the recent spike will be short-lived.

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