Portugal Inflation Rate Confirmed at 7-Month Low of 0.9%

The annual inflation rate in Portugal decreased to 0.9 percent in November of 2018 from 1 percent in the previous month and in line with preliminary estimates. It is the lowest inflation rate since April, mainly due to lower transport prices.
INE | Agna Gabriel | agna.gabriel@tradingeconomics.com 12/12/2018 11:30:30 AM
Year-on-year, cost slowed for food and non-alcoholic beverages (0.28 percent from 0.30 percent in October); transport (3.10 percent from 4.84 percent); alcoholic beverages and tobacco (2.22 percent from 3.17 percent) and communication (0.10 percent from 0.12 percent). On the other hand, prices rose faster for miscellaneous goods and services (1.13 percent from 0.92 percent); housing and utilities (2.71 percent from 2.68 percent); health (1.01 percent from 0.98 percent) and education (1.21 percent from 1.15 percent).

At the same time, prices continued to decline for recreation and culture (-0.77 percent from -0.52 percent); clothing and footwear (-3.64 percent from -3.69 percent) and furniture & household equipment (-0.09 percent from -0.20 percent) while cost rebounded for restaurant and hotels (1.30 percent from -0.64 percent).

Annual core inflation, which excludes energy and unprocessed food products, increased to 0.5 percent in November, above October’s final reading of 0.4 percent and in line with flash estimates. 

On a monthly basis, consumer prices went down 0.4 percent in November, following a 0.1 percent drop in the prior month. 

The harmonized consumer price index rose 0.9 percent year-on-year (vs 0.8 percent in October) and decreased by 1 percent month-over-month (vs a 0.5 percent drop in October).

Portugal Inflation Rate Confirmed at 7-Month Low of 0.9%