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Financial News: Portugal Consumer Prices Rise Less Than Estimated

Portugal Consumer Prices Rise Less Than Estimated

08/12/2020 - 07:49:00 (RTTNews)

(RTTNews) - Portugal's consumer prices rose less than estimated in July, preliminary data from Statistics Portugal showed on Wednesday.

The consumer price index rose 0.1 percent year-on-year in July, same as in June. In the initial estimate, inflation was 0.2 percent.

The core CPI, which excludes energy and unprocessed food products components rose 0.1 percent in July, after a 0.2 percent increase in the prior month, as estimated.

The latest inflation was driven by a rise in the prices of food and non-alcoholic beverages, miscellaneous goods and services and restaurants and hotels, while prices for transports and recreation and culture declined.

On a monthly basis, consumer prices fell 1.3 percent in July, after a 0.9 percent rise in the previous month, as initially estimated.

The EU measure of harmonized index of consumer price, or HICP, fell 0.1 percent annually in July, after a 0.2 percent rise in the prior month. According to the initial estimate, HICP remained unchanged.

On a month-on-month basis, HICP fell 2.0 percent in July, after a 1.2 percent rise in the preceding month, as estimated.

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