Inflation climbs to 10.2% in October, highest since 1992
"based on information available, the year-on-year rate of change of the Consumer Price Index (CPI) rose to 10.2% in October, up 0.9 percentage points (p.p.) on the previous month," said INE.
The year-on-year rate of change of the Consumer Price Index (CPI) rose to 10.2% in October, from 9.28% in September, reaching its highest level since May 1992, Statistics Portugal (INE) said on Friday.
According to a flash estimate released by the institute, “based on information available, the year-on-year rate of change of the Consumer Price Index (CPI) rose to 10.2% in October, up 0.9 percentage points (p.p.) on the previous month and the highest rate since May 1992.”
The underlying inflation indicator (total index excluding unprocessed foodstuffs and energy) should have registered a variation of 7.1% in October (6.9% in the previous month), the highest since January 1994.
The INE estimates that the year-on-year rate of change in the energy products index was 27.6% in October (up 5.4 percentage points over the previous month), while the unprocessed foodstuffs index will have recorded a change of 18.9% (16.9% in August), the highest rate since June 1990.
In October, the change in the CPI should have been 1.3% (1.2% in September and 0.5% in October 2021), with an estimated average change over the last 12 months of 6.7% (6.0% in the previous month).
The Portuguese Harmonised Index of Consumer Prices (HICP) should have registered a year-on-year change of 10.7% in October, compared to 9.8% in the previous month.
Final CPI figures for October 2022 will be published on 11 November.
