Portuguese Inflation Rate Down to 0.2% in August

In August, the annual inflation rate measured by the CPI decreased by 0.6 p.p. to 0.2 percent, comparing with the rate observed in the previous month. The slowdown was mainly due to lower costs for clothing, footwear and transport which were partly offset by rising food prices.

The largest downward pressure on the overall annual rate of change came from changes in prices of clothing and footwear (-2.9 percent), followed by transport costs (-1.8 percent) and housing equipment (-0.7 percent). The biggest upward pressure came from food prices (+2.9 percent).

In August 2013, compared with July 2013, the average value of rents by net area for the whole country decreased 0.1 percent.

The annual core inflation rate in August, measured by the CPI excluding energy and unprocessed food, was 0.0 percent (0.5 percent in July). The CPI monthly rate was -0.7 percent (-0.2 percent in July 2013 and -0.1 percent in August 2012). 

Portuguese Inflation Rate Down to 0.2% in August

INE | Nuno Fontes | nuno@tradingeconomics.com
9/11/2013 11:13:21 AM