Portugal Inflation Rate Rises to 1.6% In February

Consumer prices in Portugal increased 1.6 percent year-on-year in February of 2017, following a 1.3 percent rise in January. The inflation rate accelerated for the third straight month to the highest since December of 2012 amid rising food cost and oil prices that boosted transport cost.

Year-on-year, prices rose faster for food and non-alcoholic beverages (2.4 percent compared to 1.3 percent in January); transport (5.9 percent compared to 5.4 percent); restaurants and hotels (1.9 percent from 1.6 percent) and recovered for miscellaneous goods and services (0.4 percent compared to -0.1 percent). In contrast, inflation slowed for housing and utilities (0.1 percent compared to 0.5 percent) and recreation and culture (0.8 percent compared to 1.4 percent). In addition, prices fell further for clothing and footwear (-1.8 percent compared to -0.7 percent). 

On a monthly basis, consumer prices edged down 0.2 percent, following a 0.6 percent drop in January. 

The harmonized index rose 1.6 percent year-on-year and fell 0.2 percent on the month. 

Portugal Inflation Rate Rises to 1.6% In February

INE | Joana Taborda | joana.taborda@tradingeconomics.com
3/10/2017 11:35:54 AM