Portugal Consumer Prices Flat in October

Consumer prices in Portugal are expected to remain unchanged from the previous year in October 2019, following three straight months of deflation, a preliminary estimate showed. A solid increase in unprocessed food products prices is likely to offset a sharp decline in energy costs.

Unprocessed food products prices are seen rising 1.5 percent in October, compared to 0.6 percent in September; while energy costs are set to fall 4.5 percent, following a 3.8 percent decline in the previous month.

Annual core inflation rate, which excludes prices of energy and unprocessed food products, is likely to increase to 0.3 percent from 0.2 percent.

On a monthly basis, consumer prices are set to edge up 0.1 percent, following a 1.1 percent rise last month.

The harmonised index of consumer prices is expected to drop by 0.1 percent from the previous year (vs -0.3 percent in September); and by 0.3 percent month-over-month (vs 1.4 percent in September).

Portugal Consumer Prices Flat in October

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/31/2019 9:41:27 AM