Portugal Inflation Rate At 2012 High Of 2%


Consumer prices in Portugal increased 2 percent year-on-year in April of 2017, following a 1.4 percent rise in March and above market expectations of 1.2 percent. It is the highest inflation rate since October of 2012, boosted by cost of travels, stays in hotels and transport due to the Easter holidays that in 2017 fell in April while it occurred in March in 2016.

Year-on-year, biggest upward pressure came from prices of transport (4.58 percent from 3.09 percent in March); miscellaneous goods and services (0.41 percent from 0.28 percent); restaurants and hotels (5.7 percent from 2.02 percent) and recreation and culture (2.7 percent from 1 percent). In contrast, inflation eased for food and non-alcoholic beverages (1.97 percent from 2.68 percent) and housing and utilities (0.15 percent from 0.31 percent). 

Annual core inflation rate, which excludes energy and unprocessed food products components, jumped to 1.7 percent from 0.6 percent in each of the previous two months.  

On a monthly basis, consumer prices increased 1 percent, following a 1.8 percent rise in March. 

The harmonized consumer price index increased by 2.4 percent year-on-year and by 1.5 percent from the previous month.

INE | Joana Taborda | joana.taborda@tradingeconomics.com
5/11/2017 10:36:34 AM