Portuguese Inflation Rate Down to 0.8% in July

In July 2013, the annual inflation rate measured by the CPI decreased by 0.2 p.p. to 0.8 percent, comparing with the rate observed in the previous month. Lower prices of clothing, footwear, furnishings and household equipment weighted down the overall index.

The largest upward pressure on the overall annual rate of change came from changes in prices of food and non-alcoholic beverages (+2.5 percent), particularly due to higher prices of fresh fruit and vegetables.

The biggest downward pressures came from clothing and footwear (-1.2 percent), furnishings, household equipment and routine maintenance of the house (-0.3 percent), and other goods and services (-1.3 percent). Recreation and culture prices rose 0.1 percent, down from 0.8 percent in June.

In July 2013, compared with June 2013, the average value of rents by net area for the whole country remained stable.

The annual core inflation rate, measured by the CPI excluding energy and unprocessed food, moved from 0.6 percent in June to 0.5 percent in July.

Portuguese Inflation Rate Down to 0.8% in July

INE | Nuno Fontes | nuno@tradingeconomics.com
8/12/2013 11:17:35 AM