Spanish CPI MOM Flash 0.7% Beat Forecast, Inflation Accelerates

Spain's August CPI month-on-month came in at 0.7%, beating the 0.6% forecast and nearly doubling July's 0.3% print. The hotter-than-expected reading signals renewed inflation pressure in the eurozone's fourth-largest economy ahead of Friday's broader EU PMI releases, which traders are watching to recalibrate ECB rate-cut expectations against hawkish Fed repricing.