Portugal inflation exceeds Eurozone average in July
The lowest annual inflation rates were registered in France, Malta (both 6.8%) and Finland (8.0%). The highest annual rates were recorded in Estonia (23.2%), Latvia (21.3%) and Lithuania (20.9%).
After hitting 8.6% in June, the inflation rate in the Eurozone reached 8.9% in July, Eurostat confirmed on Thursday. Portugal is slightly above the Eurozone average, with an inflation rate of 9.4% in July and is the ninth country with the lowest rate.
The EU’s inflation rate reached 9.8% in July, in contrast to 9.6% in June and 2.5% year-on-year.
The lowest annual inflation rates were registered in France, Malta (6.8%, both) and Finland (8.0%). The highest annual rates were recorded in Estonia (23.2%), Latvia (21.3%) and Lithuania (20.9%).
The increase in energy prices (up 4.02 percentage points) was the main factor contributing to the higher inflation rate in the region. It was followed by food, alcohol and tobacco (up 2.08 percentage points), services (up 1.6 percentage points) and non-energy industrial goods (up 1.16 percentage points).
Inflation continues to rise in the major global economies, and governments have put forward new aid packages of billions of euros to mitigate the effects of rising prices for families and businesses. In Europe, the announcements have been successive, and in Portugal, there is a package promised for September whose details are still unknown.
