Portugal: Inflation rises 1.6% in July, INE confirms

  • ECO News
  • 13 August 2018

The consumer price index (CPI) rose to 1.6% in July, more than the same month a year earlier, a slight acceleration compared with a 1.5% growth in June.

On a month-on-month basis, inflation was -0.6% and the last 12 months average remained with 1.1%, a similar index registered in the previous month, the National Statistics Institute (INE) said on Friday.

The underlying inflation (which excludes energy and unprocessed food products) registered a 1% annual rate, a similar figure to June.

Meanwhile, the harmonised index of consumer prices ( HICP) increased to 2.2% year-on-year, 0.2 percentage points higher than in the previous month and 0.1 percentage points lower than Eurostat’s estimate for the eurozone (in June, there was no difference.)

Housing rents increased 2.1% in July, higher than the previous month by 0.2 percentage points. INE added that “Lisbon registers a more intense increase (2.7%).

And for the same timeframe, the average value of housing rent per square meter registered a monthly variation of 0.2% (similar value to the previous month), making Algarve the “region with the highest monthly variation” as INE stated.

Source: Lusa