Portuguese CPI Unchanged in October

Cost of goods and services in Portugal remained the same in October of 2014 compared to 0.4 percent drop reported in September. It was the first time in eight months consumer price index did not fall.
INE | Joana Taborda | joana.taborda@tradingeconomics.com 11/13/2014 10:55:00 PM
Year-on-year, the largest upward pressures came from prices of housing, water, electricity, gas and other fuels (up 2.62 percent in October from 2.34 percent in September); restaurants and hotels (1.63 percent versus 1.94 percent) and alcoholic beverages and tobacco (3.17 percent from 3.7 percent). Decreases in prices of clothing and footwear (-2.2 percent) and transport (-1.39 percent) led to an opposite effect.  

Housing rents for the whole country rose 4.7 percent year-on-year in October, following a 4.6 percent increase in September. The main drop was observed in the Madeira region (-1.2 percent), while the Lisbon region recorded an increase of 7.3 percent.

Excluding energy and unprocessed food, the annual inflation rate edged up to 0.2 percent in October from 0.1 percent in the previous month. 

On a monthly basis, consumer prices rose 0.3 percent (0.6 percent in September). The main upward contribution came from prices of clothing and footwear. On the opposite side, decreases were observed in transport cost.  

The harmonized index rose to an annual 0.1 percent while the monthly rate was flat. 

Portuguese CPI Unchanged in October