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Financial News: Portugal HICP Inflation At 6-month High

Portugal HICP Inflation At 6-month High

11/13/2017 - 06:42:00 (RTTNews)

(RTTNews) - Portugal's EU measure of inflation accelerated for a third straight month to its highest level in six months during October, preliminary data from Statistics Portugal showed on Monday.

The harmonized index of consumer prices, or HICP, rose 1.9 percent year-on-year following 1.6 percent increase in September. The latest rate was the highest since April, when inflation was 2.4 percent.

On a month-on-month basis, the HICP climbed 0.5 percent after a 1 percent gain in September.

The consumer price index rose 1.4 percent year-on-year, same as in the previous month. Core inflation, which excludes energy and fresh food, was also steady at 1.3 percent.

The largest upward pressures on the inflation rate came from increases in the restaurants and hotels and transports groups, while downward pressures came from changes in the prices of clothing and footwear, the agency said.

The CPI monthly rate slowed to 0.3 percent from 0.9 percent in the previous month.

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