Thursday October 11 2018
Portugal Inflation Rate Confirmed at 1.4% in September
INE | Gabriela Costa | gabriela.costa@tradingeconomics.com

The annual inflation rate in Portugal edged up to 1.4 percent in September 2018 from a 3-month low of 1.2 percent in the previous month and matching the preliminary estimate. The biggest upward pressures came from prices of transport and restaurants & hotels.

Year-on-year, prices advanced faster for transport (4.62 percent vs 4.00 percent in August); restaurants & hotels (3.30 percent vs 1.11 percent); miscellaneous goods & services (0.57 percent 0.48 percent) and housing & utilities (2.66 percent vs 2.65 percent), of which rents (2.3 percent vs 2.2 percent). 

On the other hand, cost slowed for food & non-alcoholic beverages (0.84 percent vs 0.90 percent); recreation & culture (0.35 percent vs 0.49 percent); health (1.19 percent vs 1.22 percent) and alcoholic beverages & tobacco (2.15 percent vs 2.40 percent). Additionally, prices declined further for clothing & footwear (-3.60 percent vs -2.46 percent) and furniture & household equipment (-0.35 percent vs -0.31 percent).

Annual core inflation, which excludes energy and unprocessed food products components rose to 0.9 percent, in line with the preliminary figure, from 0.6 percent in the preceding month. 

On a monthly basis, consumer prices went up 1.1 percent as initially estimated, following a 0.3 percent fall in August, as cost rebounded for both clothing & footwear (18.81 percent vs -5.59 percent) and restaurants & hotels (2.51 percent vs -1.84 percent).

The harmonized consumer price index increased by 1.8 percent year-on-year (1.3 percent in August) and rose by 1.5 percent month-over-month, rebounding from a 0.7 percent drop in the prior month.




Friday September 28 2018
Portugal Inflation Rate Ticks Up to 1.4% in September
INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Portugal's annual inflation is expected to rise to 1.4 percent in September of 2018 from a three-month low of 1.2 percent in August, a preliminary estimate showed.

Inflation should remain elevated for both energy (6.99 percent vs 7.40 percent) and unprocessed food products (1.04 percent vs 1.06 percent).

Annual core inflation rate, which excludes energy and unprocessed food products components, is expected to increase to 0.9 percent in September from 0.6 percent in the previous month.

On a monthly basis, consumer prices are set to advance 1.1 percent in September, following a 0.3 percent drop in August.

The harmonized consumer price index is expected to went up 1.8 percent year-on-year (vs 1.3 percent in August); and to increase 1.5 percent month-over-month (vs -0.7 percent in August).


Wednesday September 12 2018
Portugal Inflation Rate Confirmed at 3-Month Low of 1.2%
INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Portugal eased to 1.2 percent in August 2018 from a 15-month high of 1.6 percent in July, matching the preliminary estimate. It was the lowest inflation rate since May.

Year-on-year, prices increased at a slower pace for: food & non-alcoholic beverages (0.90 percent vs 1.19 percent in July); restaurants & hotels (1.11 percent vs 4.82 percent); miscellaneous goods & services (0.48 percent 0.65 percent) and alcoholic beverages & tobacco (2.40 percent vs 2.87 percent). In addition, cost continued to fall for clothing & footwear (-2.46 percent vs -2.81 percent) and furniture & household equipment (-0.31 percent vs -0.48 percent).

On the other hand, inflation quickened for: transport (4.00 percent vs 3.98 percent); housing & utilities (2.65 percent vs 2.60 percent), of which rents (2.2 percent vs 2.1 percent); recreation & culture (0.49 percent after prices showed no growth in July) and health (1.22 percent vs 1.19 percent).

Annual core inflation, which excludes energy and unprocessed food products components eased to 0.6 percent, in line with the preliminary figure, from 1.0 percent in the previous month. It was the lowest rate since April.

On a monthly basis, consumer prices went down 0.3 percent as initially estimated, following a 0.6 percent fall in July. The main decreases in monthly consumer price index were recorded for clothing & footwear (-5.6 percent vs -13.0 percent) and restaurants & hotels (-1.8 percent vs 1.4 percent).

The harmonized consumer price index rose by 1.3 percent year-on-year (2.2 percent in July) and decreased by 0.7 percent month-over-month (-0.4 percent in July).


Friday August 31 2018
Portugal GDP Growth Confirmed at 0.5% in Q2
INE | Joana Taborda | joana.taborda@tradingeconomics.com

The Portuguese economy advanced 0.5 percent on quarter in the three months to June of 2018, slightly higher than 0.4 percent in the previous period and confirming the preliminary estimates. Household spending was flat while a rise in inventories contributed positively to growth.

On a quarterly basis, the contribution from domestic demand increased (0.9 percentage points compared to 0.8 percentage points in Q1) while net trade subtracted 0.4 percentage points to growth, the same as in the previous period. Household spending was flat after a 0.8 percent rise in Q1; investment jumped 4.7 percent (1.5 percent in Q1) with inventories contributing 0.6 percentage points to growth (-0.2 percentage points in Q1); exports increased 1.8 percent (0 percent in Q1); and imports went up 2.5 percent (0.9 percent in Q1). 

Year-on-year, the economy grew 2.3 percent, above 2.1 percent in the previous quarter and in line with earlier estimates. The contribution from domestic demand went up, mainly due to higher household (2.6 percent compared to 2.1 percent in Q1) and public spending (0.4 percent compared to 0.3 percent in Q1). The tourism sector continues to boost the economy: spending in national territory (3.4 percent) went up faster than spending by residents (2.6 percent). On the other hand, investment rose at a slower rate (6.4 percent compared to 7.1 percent) due to 6.6 percent drop in investment in material transportation. Net trade weighed down on growth more amid higher imports (7.9 percent compared to 5.6 percent in Q1) while exports rose at a faster pace (6.8 percent compared to 4.7 percent). 

For 2018, the Portuguese government targets growth at 2.3 percent.




Friday August 31 2018
Portugal Inflation Rate Slows to 1.2% in August
INE | Joana Ferreira | joana.ferreira@tradingeconomics.com

Portugal's annual inflation rate is expected to ease to 1.2 percent in August 2018 from a 15-month high of 1.6 percent in the previous month, a preliminary reading showed.

Inflation should slow for both energy (7.4 percent vs 7.7 percent in July) and unprocessed food products (1.1 percent vs 1.3 percent).

Annual core inflation rate, which excludes energy and unprocessed food products components, is expected to fall to 0.6 percent in August from 1 percent in the previous month.

On a monthly basis, consumer prices are set to decline 0.3 percent in August, following a 0.6 percent drop in July.

The harmonized consumer price index is expected to advance 1.3 percent year-on-year (vs 2.2 percent in July); and to fall 0.7 percent month-over-month (vs -0.4 percent in July).


Tuesday August 14 2018
Portuguese Economy Grows 0.5% QoQ in Q2
INE | Gabriela Costa | gabriela.costa@tradingeconomics.com

The Portuguese economy grew by 0.5 percent on quarter in the three months to June of 2018, following a 0.4 percent expansion in the previous period, a preliminary estimate showed.

Growth continued to be driven by domestic demand while net trade contributed less negatively.

Year-on-year, the economy advanced 2.3 percent in the second quarter, following a 2.1 percent expansion in the previous period. Private consumption increased at a faster pace, while investment rose slightly slower and net trade contributed negatively to growth – similar to that observed in the previous quarter.

In 2017, Portugal's economy grew by 2.7 percent, its strongest pace in 17 years, and this year the government expects a softer 2.3 percent expansion.


Friday August 10 2018
Portugal July inflation Rate Confirmed at 15-Month High
INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Annual inflation rate in Portugal rose to 1.6 percent in July of 2018 from 1.5 percent in June, matching the preliminary estimate. It was the highest inflation rate since April 2017.

Year-on-year, inflation picked up mostly for: housing & utilities (2.60 percent vs 2.32 percent in June), namely rents (2.1 percent vs 1.9 percent); miscellaneous goods & services (1.58 percent vs 1.52 percent) and restaurants & hotels (4.82 percent vs 3.82 percent). 

On the other hand, prices slowed a bit for food & non-alcoholic beverages (1.19 percent vs 1.24 percent); transport (3.98 percent vs 4.06 percent) and remained almost flat for recreation and culture. Meantime, cost declined for clothing & footwear (-2.81 percent vs -2.74 percent) and furnishings (-0.48 percent vs -0.25 percent).

Annual core inflation, which excludes energy and unprocessed food products component was steady at 1.0 percent, in line with the preliminary estimate.

On a monthly basis, consumer prices inched down 0.6 percent as initially estimated, following a 0.1 percent increase in June. The main decrease in monthly consumer price index was recorded for clothing and footwear (-13.0 percent vs -1.3 percent), due to the usual start of the summer sales season in July.

The harmonized consumer price index rose by 2.2 percent year-on-year (2.0 percent in June) and decreased by 0.4 percent month-over-month (after being flat in June).


Tuesday July 31 2018
Portugal Inflation Rate Hits 15-Month High in July
INE | Joana Ferreira | joana.ferreira@tradingeconomics.com

Annual inflation rate in Portugal is expected to increase to 1.6 percent in July 2018 from 1.5 percent in the previous month, a preliminary reading showed. It is the highest rate since April 2017.

Inflation should pick up for both energy (7.8 percent vs 7.5 percent in June) and unprocessed food products (1.4 percent vs 1.2 percent).

Annual core inflation rate, which excludes energy and unprocessed food products components, is expected to stay at 1 percent in July, unchanged from the previous month's six month high.

On a monthly basis, consumer prices are set to decline 0.6 percent in July, following a 0.1 percent gain in June.

The harmonized consumer price index is expected to advance 2.2 percent year-on-year (vs 2 percent in June); and to fall 0.4 percent month-over-month (vs flat reading in June).


Wednesday July 11 2018
Portugal June Inflation Rate Revised Lower to 1.5%
INE | Joana Ferreira | joana.ferreira@tradingeconomics.com

The annual inflation rate in Portugal stood at 1.5 percent in June 2018, revised from a preliminary reading of 1.6 percent and compared with the previous month's 1 percent. It was the highest rate since December as cost of most products increased.

Main upward pressure came from: food & non-alcoholic beverages (1.2 percent vs 0.7 percent in May); transport (4.1 percent vs 3.8 percent); housing & utilities (2.3 percent vs 2 percent); miscellaneous goods & services (0.6 percent vs 0.3 percent); and restaurants & hotels (3.8 percent vs 2.9 percent). In addition, recreation and culture prices were unchanged (vs -0.7 percent in May) and clothing & footwear deflation eased (-2.7 percent vs -3.3 percent).
Annual core inflation rate, which excludes energy and unprocessed food products, rose to 1 percent in June from 0.6 percent in May, matching the preliminary estimate.
On a monthly basis, consumer prices edged up 0.1 percent in June as previously estimated, following a 0.4 percent gain in May. An increase in transport prices (0.7 percent vs 0.5 percent) was partly offset by a decline in cost of clothing & footwear (-1.3 percent vs unchanged).
The harmonized consumer price index increased by 2 percent year-on-year (vs 1.4 percent in May) and was unchanged month-over-month (vs 0.8 percent in May).


Friday June 29 2018
Portugal Inflation Rate at 14-Month High of 1.6%
INE | Agna Gabriel | agna.gabriel@tradingeconomics.com

Inflation rate in Portugal is expected to increase to 1.6 percent in June of 2018 from 1 percent in the previous month. It was the highest inflation rate since April of 2017, preliminary estimates showed.

Annual core inflation rate, which excludes energy and unprocessed food products components, is expected to rise to 1 percent from 0.6 percent in May.

On a monthly basis, consumer prices are set to increase 0.1 percent, easing from 0.4 percent in the previous month, according to the preliminary figures.

The harmonized consumer price index is expected to advance 2 percent year-on-year (compared to 1.4 percent in May) and 0.1 percent month-over-month (compared to 0.8 percent in May).