Portugal Inflation Rate at -0.4% in January


Portuguese consumer prices fell by an annual 0.4 percent in January of 2015, the same as in December of 2014, largely due to an 8 percent drop in energy cost.

Year-on-year, additional downward pressures came from transport (-4.2 percent); clothing and footwear (-1.48 percent) and leisure and culture (-1.32 percent). Food prices contracted marginally by 0.13 percent. In contrast, prices rose for restaurants and hotels (+1.34 percent), housing, water, electricity and gas (+1.05 percent) and for household equipment (+0.99 percent).

Housing rents for the whole country rose 2.6 year-on-year in January, with Lisbon registering the highest increase (4.2 percent) and Azores the lowest (-2.4 percent).

Annual core inflation rate, which excludes energy and unprocessed food, was 0.3 percent in January, the same as in December. 

On a monthly basis, the inflation rate was recorded at -1.4 percent, after being flat in the previous month, mainly due to an 18.6 percent drop in clothing and footwear prices, as a result of the discount period.

The harmonized index decreased to an annual 0.4 percent while the monthly rate fell 1.5 percent.

Portugal Inflation Rate at -0.4% in January


INE | Carolina Cunha | carolina.cunha@tradingeconomics.com
2/11/2015 11:47:11 AM