November inflation slowdown confirmed as prices up 0.4% and 0.9% YoY
CPI was up in November by 0.4%, increasing by 0.9% year-on-year. In November the average year-on-year rate of overall inflation over the last 12 months was 1.1%, the same average as in October
Portugal’s consumer price index (CPI) rose 0.4% in November, and was up 0.9% on the same month of 2017, marking a slowdown from October’s year-on-year rate of 1.0%, the National Statistics Institute (INE) announced on Wednesday, confirming figures that appeared in flash estimates it released on 30 November.
However, underlying annual inflation (excluding unprocessed food and energy products) was 0.5%, rather than the 0.6% first estimated – faster than the 0.4% rate seen in October, when prices were down 0.1% on the month.
In November the average year-on-year rate of overall inflation over the last 12 months was 1.1%, the same rolling average as in October, the INE added.
The harmonised consumer prices index – used in comparisons with other European Union member states – fell 1.0% in November, leaving it up 0.9% on a year earlier, as against the 1.0% estimated at the end of the month.
The component of the index representing rents was up 0.2% in November, leaving it up 2.7% on the year, with Lisbon and the Algarve seeing the largest increases, according to the INE.
LUSA
