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Financial News: Portugal PPI Inflation Eases Slightly In May

Portugal PPI Inflation Eases Slightly In May

06/17/2022 - 09:09:00 (RTTNews)

(RTTNews) - Portugal's producer prices continued to rise sharply in May, though at a slightly slower pace, figures from Statistics Portugal showed on Friday.

The producer price index climbed 24.5 percent year-on-year in May, following a 24.7 percent rise in April.

The overall increase in May was largely influenced by higher prices of energy and raw materials.

Energy prices alone grew 11.3 percent annually in May. Excluding the energy group, producer price inflation accelerated to 10.3 percent from 9.5 percent in the prior month.

On a monthly basis, producer prices increased 1.4 percent in May, after remaining flat in April.

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