Financial News: Portugal Inflation Eases Slightly, Industrial Output Grows

Portugal Inflation Eases Slightly, Industrial Output Grows

(RTTNews) - Portugal's consumer price inflation moderated slightly in October, while industrial production expanded for the fifth straight month in September, separate reports from Statistics Portugal showed on Friday.

The consumer price index rose 2.3 percent annually in October, slower than the 2.4 percent increase in September, the flash data said.

Prices for energy products were 1.2 percent less expensive, which largely helped the slowdown in inflation. The annual price growth in unprocessed products moderated to 6.1 percent from 7.0 percent.

Excluding energy and unprocessed food products, core inflation rose somewhat to 2.1 percent from 2.0 percent.

On a monthly basis, consumer prices remained flat in October after rising 0.9 percent in the previous month.

EU-harmonized inflation stood at 2.0 percent, up from 1.9 percent in September.

Industrial production advanced 2.0 percent annually in September, though slower than the 3.0 percent growth in August. Production has been rising since May. Data showed that manufacturing output was 1.9 percent lower.

Energy production grew the most, by 15.3 percent from last year, followed by intermediate and other goods with an increase of 2.9 percent. Consumer goods output rose 2.0 percent, while that of non-durable goods continued to contract by 3.8 percent.

On a monthly basis, industrial production increased 0.6 percent versus a 1.1 percent rise in August.

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