Wednesday, the National Institute of Statistics or INE said Spanish consumer prices declined 0.2% in April from the prior year, following a 0.1% drop in March. At the same time, consumer prices rose 1% on a monthly basis. The annual and monthly variations matched economists' expectations.

Meanwhile, underlying inflation stood at 1.3% in April, the same rate as in March.

The Harmonized Index of Consumer Prices or HICP slipped 0.2% annually compared with the flash estimate of 0.1% fall. Month-on-month, prices were up 1%.

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