Spanish Inflation at 3% Backs Case for ECB Rate-Hold Stance

Spanish inflation eased in December but remained well above the euro-area average, supporting the case for the European Central Bank to keep interest rates unchanged.

Consumer prices rose 3% from a year earlier, down from 3.2% in November and in line with economists’ expectations, data published Tuesday showed. Inflation has been at or above 3% for four months now, after previously being under that level for more than a year.