Portugal Inflation Rate Confirmed at 0.8% in April


The annual inflation rate in Portugal stood at 0.8 percent in April 2019, unchanged from the previous month and matching the initial estimate. Prices dropped for food & non-alcoholic beverages while continued to rise mainly for transport due to Easter holiday.

Prices decreased mainly for food & non-alcoholic beverages (-0.2 percent vs 1.2 percent in March), namely fruits (-4.2 percent vs -0.4 percent), oils & fats (-3.1 percent vs -1.9 percent); and clothing & footwear (-3.0 percent vs -2.5 percent). Also, inflation slowed for alcoholic beverages & tobacco (2.2 percent vs 3.0 percent) and it remained steady for education (at 1.4 percent).

On the other hand, prices advanced faster for transport (2.7 percent vs 2.5 percent), namely air transportation (11.6 percent vs -18.0 percent) and restaurants & hotels (1.9 percent vs 1.2 percent), on the back of seasonal effects from the timing of Easter which took place in March a year ago; miscellaneous goods & services (1.8 percent vs 1.5 percent) and housing & utilities (0.9 percent vs 0.8 percent), of which rents (3.1 percent vs 3.0 percent). In addition, cost rebounded for recreation & culture (0.7 percent vs -0.9 percent).

Annual core inflation rate, which excludes prices of energy and unprocessed food products, edged up to 0.8 percent in April 2019 from 0.7 percent in March, in line with earlier figures.

On a monthly basis, consumer prices increased 0.6 percent, easing from a 1.8 percent rise and matching the initial estimate. Prices advanced less for clothing & footwear (0.8 percent vs 26.1 percent) and housing & utilities (0.1 percent vs 0.3 percent) and fell for food & non-alcoholic beverages (-0.3 percent vs -0.1 percent) and alcoholic beverages & tobacco (-0.2 percent vs 2.2 percent). In contrast, cost grew further for restaurants & hotels (2.6 percent vs 1.5 percent);transport (1.2 percent vs 0.7 percent) and miscellaneous goods & services (0.5 percent, after being flat in March).

The harmonized consumer price index rose 0.9 percent year-on-year (vs 0.8 percent in March) and increased 1 percent month-over-month (vs 2.1 percent in March).

Portugal Inflation Rate Confirmed at 0.8% in April


INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/13/2019 11:22:10 AM