Financial News: Portugal Inflation Confirmed At 2.5%

Portugal Inflation Confirmed At 2.5%

12/11/2024 - 06:24:00 (RTTNews)

(RTTNews) - Portugal's consumer price inflation increased slightly, as initially estimated in November, the final data from Statistics Portugal showed on Wednesday.

Consumer price inflation rose to 2.5 percent in November from 2.3 percent in October. That was in line with the flash data published on November 29.

The rise in inflation was driven by a 2.1 percent rebound in energy products. Housing and utility costs grew at a faster pace of 7.07 percent. Meanwhile, the annual price growth in unprocessed food products eased slightly to 2.0 percent from 2.1 percent.

Excepting energy and unprocessed food products, core inflation held steady at 2.6 percent.

On a monthly basis, consumer prices dropped 0.2 percent after increasing 0.1 percent in the previous month. There was no change in figures compared with the earlier estimate.

EU-harmonized inflation rose to 2.7 percent in November from 2.6 percent a month ago, as estimated.

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