Portugal Inflation Rate Down to 0.0 Percent in February

In February 2013, the annual inflation rate measured by the CPI decreased 0.2 percentage points to 0.0 percent, comparing with the observed in the previous month. The annual core inflation rate, moved from 0.3 percent in January 2013 to -0.5 percent.

In February, the CPI monthly rate was -0.1 percent (-1.2 percent in January 2013 and 0.1 percent in February 2012). This result was mostly due to the contribution of changes in prices of clothing and footwear.

The Portuguese Consumer Price Index 12-month average rate of change decreased to 2.2 percent in February 2013 (2.5 percent in January). The 12-month core inflation rate, which excludes unprocessed food and energy, decreased 0.2 percentage points to 1.1 percent in February. The main reductions were recorded in Transports, Housing, water, electricity, gas and other fuels and Health.
In January 2013 the gap between the Portuguese and the Euro-area HICP 12-month average rate was 0.1 percentage points. In February, with reference to Eurostat's flash estimate for the whole area, it is estimated to have decreased to -0.1 percentage points.

INE | Nuno Fontes | nuno@tradingeconomics.com
3/12/2013 11:14:42 AM