Portuguese Inflation Rate Up to 0.8% in January

Consumer prices in Portugal increased by 0.8 percent year-on-year in January of 2016 following a 0.4 percent growth in December, mainly due to higher prices of food and clothing.
INE | Joana Ferreira | joana.ferreira@tradingeconomics.com 2/10/2016 11:56:37 AM
Year-on-year, cost of food and non-alcoholic beverages rose by 0.2 percent after showing no growth in the previous month and prices of clothing and footwear went up by 0.2 percent compared to a 2.3 percent drop in December.

Additional upward pressure came from: Communication (+5.3 percent); alcoholic beverages and tobacco (+4.4 percent); miscellaneous goods and services (+1.6 percent); recreation and culture (+1 percent); education (+0.9 percent); furnishing and household equipment (+0.8 percent); restaurants and hotels (+0.6 percent). By contrast, cost of housing, water, electricity, gas and other fuels dropped slightly by 0.1 percent while prices of transportation and health showed no growth.

The annual core inflation rate, which excludes energy and unprocessed food products components, was rose to 1 percent compared to 0.5 percent in December. 

On a monthly basis, consumer prices dropped 1 percent, after falling 0.3 percent last month, as prices of clothing and footwear declined sharply by 16.7 percent.

The harmonized consumer price index increased by 0.7 percent year-on-year compared to a 0.3 percent growth in the previous month.

Portuguese Inflation Rate Up to 0.8% in January