Portugal inflation rises to 3.6% in September

Portugal’s annual inflation rate rose to 3.6% in September, up 0.3 percentage points from August, as higher fuel prices pushed consumer prices up for a second straight month, according to a flash estimate released by Statistics Portugal.

Statistics Portugal said the acceleration in the consumer price index was explained “to a large extent” by rising fuel prices, after petroleum traded above $100 a barrel for a month and diesel and gasoline prices in Portugal moved above €2 per litre. The energy products index rose 15.4% year on year, compared with 12.2% in August.

Unprocessed food prices also increased, with that index rising 3.6% from 3.4% in the previous month. Core inflation, which excludes unprocessed food and energy, is estimated to have reached 2.7% in September, up 0.1 percentage points from August.

On a monthly basis, the consumer price index is estimated to have risen 1.2%, after no change in August. If confirmed, the 3.6% annual reading would be the highest since August 2023, according to the data cited by Statistics Portugal.

Originally published at Eco.pt