Portugal Inflation Rate Steady at -0.4%

Portuguese annual inflation rate was recorded at -0.4 percent in September of 2014, unchanged from August. The country has been facing deflation since February of 2014.

Year-on-year, the main upward pressures came from prices of housing, water, electricity, gas and other fuels (2.3 percent) and alcoholic beverages and tobacco (3.4 percent). In contrast, cost of food and non-alcoholic beverages fell 2.2 percent (from a 3.2 percent drop in August) and prices of recreation and culture decreased 2.4 percent (from -1 percent in August).

Annual core inflation rate decreased to 0.1 percent in September from 0.4 percent in August. 

The monthly inflation rate turned positive to 0.6 percent (-0.2 percent in August). The main upward contribution came from prices of clothing and footwear (21.1 percent). On the opposite side, decreases were observed in transport cost (-4 percent). 

The EU harmonized annual inflation rate was 0 percent in September, up from -0.1 percent in August.

Portugal Inflation Rate Steady at -0.4%

INE | Ricardo Martins | ricardo.martins@tradingeconomics.com
10/10/2014 11:40:42 AM