Financial News: Portugal Inflation Confirmed At 2.2%

Portugal Inflation Confirmed At 2.2%

05/13/2024 - 06:26:00 (RTTNews)

(RTTNews) - Portugal's consumer price inflation eased slightly, as initially estimated in April, the latest data from Statistics Portugal showed on Monday.

Consumer price inflation eased to 2.2 percent in April from 2.3 percent in the preceding month. That was in line with the flash data published on April 30.

The largest downward contributions to the overall annual rate of change came from changes in the prices of furnishings, household equipment, and routine household maintenance, which fell 1.94 percent, the agency said.

Prices for unprocessed food products remained flat in April, versus a 0.5 percent decrease in the previous month. Meanwhile, the annual price growth of energy products accelerated to 7.9 percent from 4.8 percent.

The core inflation, which excludes energy and unprocessed food products, also moderated to 2.0 percent in April from 2.5 percent a month ago, as estimated.

On a monthly basis, consumer prices moved up 0.5 percent in April, slower than the 2.0 percent growth in the prior month.

EU-harmonised inflation slowed to 2.3 percent from 2.6 percent in March. There was no change in figures compared to the earlier estimate.

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