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Financial News: Portugal PPI Inflation Eases Further

Portugal PPI Inflation Eases Further

11/17/2022 - 08:20:00 (RTTNews)

(RTTNews) - Portugal's producer price inflation eased for the fourth straight month in October, figures from Statistics Portugal showed on Thursday.

The producer price index climbed 16.2 percent year-on-year in October, slower than the 22.4 percent rise in September.

The slowdown in October was largely influenced by the deceleration in energy prices.

The annual growth in energy prices slowed notably to 21.7 percent in October from 34.9 percent a month ago. Prices for intermediate goods grew 16.7 percent.

Excluding the energy group, producer prices rose 14.6 percent annually versus 15.5 percent in September.

On a monthly basis, producer prices dropped 0.4 percent in October, after a 0.1 percent fall in the prior month. This was the third successive monthly decrease.

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