Financial News: Portugal Producer Price Inflation Slows To 0.9%

Portugal Producer Price Inflation Slows To 0.9%

10/17/2024 - 06:42:00 (RTTNews)

(RTTNews) - Portugal's producer price inflation eased in September to the lowest level in four months amid cheaper energy costs, figures from Statistics Portugal showed on Thursday.

The producer price index rose 0.9 percent year-on-year in September, slower than the 2.0 percent rise in August.

In addition, the recent inflation rate was the weakest since May, when prices had risen 0.6 percent.

The slowdown in inflation was mainly driven by a 3.4 percent fall in energy costs.

Prices for capital goods also showed a decrease of 0.2 percent. Meanwhile, costs for consumer and intermediate goods grew by 3.3 percent and 1.4 percent, respectively.

Excluding the energy group, producer prices climbed 1.9 percent versus a 2.1 percent rise in August.

On a monthly basis, producer prices dropped 1.0 percent in September versus a flat change in the preceding month.

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