Portugal - Taxa de Inflação

The annual inflation rate in Portugal in expected to increase to 0.4 percent in December 2019 from 0.3 percent in November, preliminary estimates showed. It is the higher inflation since June, as unprocessed food products are seen rising 1.2 percent (vs 1.0 percent in November) and energy costs are likely to be flat (vs -3.2 percent). Annual core inflation rate, which excludes prices of energy and unprocessed food products, is likely to decrease to 0.4 percent from 0.6 percent. On a monthly basis, consumer prices are seen falling 0.1 percent, the same as in the previous month. The harmonised index of consumer prices is expected to rise 0.4 percent year-on-year (-0.2 percent in November) and fall 0.3 percent month-over-month (-0.7 percent in November).

Portugal's consumer price inflation was confirmed at 0.3 percent year-on-year in November 2019, the first month of price increase since June, mainly boosted by a rebound in transport costs. Upward pressure came also from restaurants & hotels and recreation & culture, while inflation eased for both food & non-alcoholic beverages and miscellaneous goods & services. Core consumer prices, which exclude prices of energy and unprocessed food products, rose 0.6 percent from a year earlier in November, accelerating from a 0.3 percent gain in the previous month. On a monthly basis, consumer prices dropped 0.1 percent, after being unchanged in October.

The annual inflation rate in Portugal in expected to rebound to 0.3 percent in November of 2019 from a flat reading in October, preliminary estimates showed. It is the first rise in consumer prices in five months, with energy deflation slowing. On a monthly basis, consumer prices are seen falling 0.1 percent, following a flat reading last month.

Consumer prices in Portugal were unchanged from the previous year in October 2019, after a 0.1 percent decrease in the previous month and in line with market expectations. Cost rebounded for food and non-alcoholic beverages and restaurant and hotels while inflation was steady for health and miscellaneous goods and services. On a monthly basis, consumer prices showed no growth, compared with a 1.1 percent rise in the previous month and matching earlier estimates.

Consumer prices in Portugal are expected to remain unchanged from the previous year in October 2019, following three straight months of deflation, a preliminary estimate showed. A solid increase in unprocessed food products prices is likely to offset a sharp decline in energy costs.

Portugal's consumer prices fell 0.1 percent from a year earlier in September 2019, unrevised from the preliminary estimate and unchanged from the previous month. It was the third consecutive month of deflation. The largest downward pressure came from communications, clothing & footwear and recreation & culture.