Consumer price inflation expected to be negative in September
According to the National Statistics Institute (INE), Portugal's rate of consumer inflation is expected to be -0.1% in September, down 0.1 of a percentage point from the previous month.
Portugal’s rate of consumer inflation is expected to be -0.1% in September, down 0.1 of a percentage point from August, according to a flash estimate released by the National Statistics Institute (INE) on Wednesday.
“Based on the information made available until the date of the present press release, the Consumer Price Index (CPI) annual rate is estimated to be -0.1% in September 2020, 0.1 percentage points (p.p.) lower than in the previous month,” the INE highlight reads. In August, inflation had been zero (0%).
Although inflation is negative overall, there are differences within the various categories. In the case of unprocessed food, inflation stood at 4.22% year-on-year. On the other hand, energy prices are 5.5% lower than in September last year.
The monthly change (between July and August) in the CPI was 1%. The average for the last 12 months up to September places inflation at 0.1%.
The final CPI figures for September will be published on October 13.
