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Financial News: Portugal Inflation Confirmed At 2.8%

Portugal Inflation Confirmed At 2.8%

07/10/2024 - 07:17:00 (RTTNews)

(RTTNews) - Portugal's consumer prices rose at a slightly slower rate in June, as initially estimated, the final data from Statistics Portugal showed on Wednesday.

Consumer price inflation eased to 2.8 percent in June from 3.1 percent in May. That was in line with the flash data published on June 28.

Core inflation, which excludes energy and unprocessed food products, also slowed to 2.4 percent in June from 2.7 percent in the prior month. In the flash report, the rate was 2.3 percent.

The annual price growth in food products decelerated to 1.8 percent from 2.5 percent. Meanwhile, prices for energy products grew at an accelerated pace of 9.4 percent versus a 7.8 percent rise in May. 

On a monthly basis, consumer prices remained flat in June after rising 0.2 in the previous month.

EU-harmonised inflation also softened to 3.1 percent in June from 3.8 percent a month ago, as estimated.

Separate official data showed that the trade deficit of the country was EUR 2.23 billion in May, down from EUR 2.45 billion in the same month of 2023. Both exports and imports fell by 1.5 percent and 3.4 percent, respectively.

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