Inflation in April slows 1.7pp to 5.7% for sixth straight monthly drop
April's annual inflation rate is the lowest since March 2022, when it stood at 5.3%.
The year-on-year change in Portugal’s Consumer Price Index (CPI) in April slowed to 5.7%, down 1.7 percentage points on the previous month, decelerating for the sixth consecutive month, the National Statistics Institute (INE) said, thus confirming its previous flash estimate.
“Rounded to one decimal place, this rate coincides with the value of the flash estimate released on 28 April,” it said in a release.
April’s annual inflation rate is the lowest since March 2022, when it stood at 5.3%.
According to the statistics institute, “this deceleration is partly explained by the base effect resulting from the increase in prices of electricity, gas and food products that occurred in April 2022.”