Tourism pulls inflation up to 1.4% in September

  • ECO News
  • 12 October 2017

The inflation rate accelerated thanks to categories associated with tourism: restaurants and hotels, housing and transports.

Prices are starting to increase. In September, according to data disclosed by INE, this Thursday, the inflation rate suffered an homologous increase to 1.4%. This rise can be mainly justified by categories associated with tourism: restaurants and hotels, housing and transports.

September’s 1.4% rate stands 0.3 percentage points above what had been registered in August. The consumer price index suffered a monthly variation of 0.9%, which also represents an acceleration in comparison to August, when the rate stabilized. In the past twelve months, the average monthly variation stood at 1.2%.

INE highlights that restaurants and hotels were the main contributors to this evolution, since prices in this category increased 4.48% in comparison to September of 2016; as for transports, there was an homologous acceleration which surpassed 3%. The most relevant negative contribution came from clothing and footwear, which suffered a 3.44% fall.

Rents rise again

This year, housing rents increased again in September. “In September, the monthly rate of change of the average value of rents per square meter of living area for the whole country was 0.2% (0.1% in the previous month)”, INE stated.

The city in which rent prices accelerated the most was Lisbon, with a 0.3% increase. As for the Autonomous Region of Madeira, the rent variation rate retrieved to 0.1%.

In an homologous comparison, the evolution of rents is stabilizing. On a national level, the rent variation rate remains at 1%, an amount that had been registered in August.