Portugal Consumer Prices Fall for 1st Time Since 2015

Consumer prices in Portugal decreased 0.3 percent year-on-year in July of 2019, down from a 0.4 percent rise in the previous month, preliminary estimates showed. It was the first fall in consumer prices since February of 2015, as energy cost is expected to drop further while unprocessed food should rise at a softer pace, according to flash estimates.

Prices are seen decreasing faster for energy (-2.8 percent from -2.5 percent) while those of unprocessed food should increase 0.2 percent, easing from a 1 percent. 

Core consumer prices, which excludes prices of energy and unprocessed food products are expected to edge down 0.1 percent from a year earlier, compared to a 0.6 percent gain in the prior month.

On a monthly basis, consumer prices are set to slump 1.3 percent, after showing no growth in June.

Harmonized consumer prices likely declined 0.7 percent year-on-year, after rising 0.7 percent in June and are seen dropping 1.7 percent month-over-month after a 0.4 percent gain in June.

Portugal Consumer Prices Fall for 1st Time Since 2015

INE | Agna Gabriel | agna.gabriel@tradingeconomics.com
7/31/2019 8:50:01 AM