Spain Inflation Surprise Puts Brakes on ECB Rate Hike Pressure

Spain's inflation data has surprised market expectations, easing pressure on the European Central Bank (ECB) to raise interest rates.

The consumer price index (CPI) rose by 1.5% year-over-year in July, which is lower than the expected 1.6%. This development may give the ECB some breathing room as it considers its monetary policy decisions.

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