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Financial News: Portugal Inflation Eases More Than Estimated

Portugal Inflation Eases More Than Estimated

09/12/2022 - 07:57:00 (RTTNews)

(RTTNews) - Portugal's consumer price inflation eased more than initially estimated in August, latest data from Statistics Portugal showed on Monday.

Consumer price inflation slowed to 8.9 percent in August from 9.1 percent in July. The latest figure was revised from a 9.0 percent rise estimated initially on August 31.

The core CPI, which excludes energy and unprocessed food products components, climbed 6.5 percent yearly in August, faster than the 6.2 percent increase in the previous month. That was in line with the initial report.

Further, core inflation was the highest since March 1994.

Prices for energy products grew 24.0 percent annually in August, and prices for unprocessed food gained 15.4 percent.

On a monthly basis, consumer prices dropped 0.3 percent in August, after showing no variations in July.

The EU measure of harmonized index of consumer prices, or HICP, rose 9.3 percent annually in August, following a 9.4 percent gain in July. In the initial data, the rate of inflation in August was also 9.4 percent.

Month-on-month, the HICP dropped 0.2 percent in August, after remaining flat in the preceding month.

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