Portugal Inflation Rate at 4-Month High of 1.4% in September

Consumer prices in Portugal increased 1.4 percent year-on-year in September, accelerating from 1.1 percent in the previous month. It is the highest inflation since May, mainly boosted by cost of food; transport; miscellaneous goods & services and housing & utilities. Core inflation which excludes food and energy rose 1.3 percent, the same pace as in August.

Year-on-year, prices advanced faster for: food & non-alcoholic beverages (1.1 percent vs 0.4 percent in August); transport (2.6 percent vs 1.7 percent); miscellaneous goods & services (1.3 percent vs 1.1 percent) and housing & utilities (1.3 percent vs 0.7 percent). Additional upward pressure came from: restaurants & hotels (4.5 percent vs 3.9 percent); health (0.7 percent vs 0.6 percent) and alcoholic beverages & tobacco (2.6 percent vs 2.3 percent).

On the other hand, cost slowed for recreation and culture (1.5 percent vs 2.8 percent) and communication (3.1 percent vs 3.8 percent) while declined for household equipment (-0.5 percent vs -0.6 percent) and clothing & footwear (-3.4 percent vs -1.9 percent).

On a monthly basis, consumer prices inched up 0.9 percent, after being flat in the previous month.

The harmonized consumer price index increased 1.6 percent year-on-year, above 1.3 percent in August. Compared to the previous month, the harmonized index rose 1 percent from 0.2 percent in August.

Portugal Inflation Rate at 4-Month High of 1.4% in September

INE |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
10/12/2017 10:31:47 AM