Spain inflation soars to record 10% as ECB gears up for rate hikes

European Central Bank policy makers preparing for the first interest-rate increases in more than a decade were handed conflicting signals on the inflation they’re trying to curb as price growth unexpectedly hit a record in Spain while easing off in Germany.

Energy and food costs drove Spanish inflation to 10% last month -- defying government efforts to curb it and raising pressure on Prime Minister Pedro Sanchez. In Germany, meanwhile, cuts in fuel duty and discounted public-transport tickets helped slow the surge in prices.

“It’s a question of waiting until July 1 when we have the consolidated number for the whole of