Portugal Inflation Confirmed At 2.3%, Highest In 4 Months

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Portugal's consumer price inflation accelerated to the highest level in four months, as initially estimated in January, the latest data from Statistics Portugal showed on Monday.

Consumer price inflation accelerated to 2.3 percent in January from 1.4 percent in the previous month. That was in line with the flash data published earlier.

Further, this was the highest inflation rate since September 2023, when prices had risen 3.58 percent.

The core inflation rate, which excludes energy and unprocessed food products, softened to 2.4 percent in January from 2.6 percent in December.

Housing and utility costs rebounded sharply by 4.28 percent annually in January, versus a 6.14 percent decline a month ago.

Prices of food and alcoholic beverages rose at a faster pace of 2.70 percent, while clothing and footwear costs dropped by 3.02 percent.

On a monthly basis, consumer prices remained unchanged from December, when they dropped by 0.4 percent, as estimated.

EU-harmonised inflation also accelerated to 2.5 percent from 1.9 percent in the prior month.

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