Portugal Inflation Rate at 0.8% in March


The annual inflation rate in Portugal dropped to 0.8 percent in March 2019 from 0.9 percent in February and slightly below an initial estimate of 0.9 percent. Prices slowed mainly for food and miscellaneous goods & services while they rose further for transport and housing & utilities.

Prices advanced at a slower pace primarily for food & non-alcoholic beverages (1.2 percent vs 1.3 percent in February); miscellaneous goods & services (1.5 percent vs 1.7 percent) and restaurants & hotels (1.2 percent vs 1.7 percent). In addition, cost fell for recreation & culture (-0.9 percent vs 0.1 percent) and clothing & footwear (-2.5 percent vs -3.3 percent) and furnishings (-0.7 percent vs -0.2 percent).

In contrast, inflation edged higher for transport (2.5 percent vs 2.3 percent), namely fuels (4.5 percent vs 0.7 percent) and housing & utilities (0.8 percent vs 0.5 percent), of which rents (3.0 percent vs 2.9 percent).

Annual core inflation rate, which excludes prices of energy and unprocessed food products fell to 0.7 percent in March 2019 from 1.0 percent in February, in line with earlier figures.

On a monthly basis, consumer prices rose 1.8 percent, following a 0.2 percent drop in the prior month and matching the initial estimate. Main upward pressure came from prices of clothing & footwear (26.1 percent vs -4.6 percent), mainly due to the end of sales season; restaurants & hotels (1.4 percent vs -0.1 percent); transport (0.7 percent vs 0.5 percent) and housing & utilities (0.3 percent vs 0.1 percent).

The harmonized consumer price index rose 0.8 percent year-on-year (vs 0.9 percent in February) and increased 2.1 percent month-over-month (-0.3 in February).


Portugal Inflation Rate at 0.8% in March


INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
4/10/2019 12:27:26 PM