Portugal Annual Inflation Rate Up to 0.5%


Consumer prices in Portugal rose 0.5 percent year-on-year in June of 2016, up from a 0.3 percent increase in the previous month. Food inflation reached an 8-month high while transport prices fell the most since August.

Year-on-year, main upward pressure came from prices of food and non-alcoholic beverages (+1 percent from -0.1 percent in May); restaurants and hotels (+2.61 percent from +2.19 percent in May) and housing and utilities (+0.69 percent from +0.65 percent in May). In contrast, prices grew at a slower pace for communication (+1.7 percent from +2.8 percent in May) and alcoholic beverages and tobacco (+1.9 percent from +2.3 percent in May) and transport prices declined at a faster 1.49 percent (-1.29 percent in May).

Annual core inflation which excludes prices of food and energy eased to 0.7 percent from 0.8 percent in May. 

On a monthly basis, consumer prices edged up 0.1 percent, slowing from a 0.3 percent rise in May and reaching the lowest in four months. Cost of clothing and footwear was the main driver of the slowdown, falling by 2 percent while food prices recorded the highest upward pressure (up 1.2 percent), namely fresh fruit, fresh fish and pork.

Portugal Annual Inflation Rate Up to 0.5%


INE | Joana Taborda | joana.taborda@tradingeconomics.com
7/12/2016 11:43:04 AM