FX.co ★ Portugal Inflation Eases To 2.8% In June

Portugal witnessed a slight deceleration in consumer price increases this June, as per preliminary data released by Statistics Portugal on Friday.

The inflation rate for consumer prices eased to 2.8% in June, down from 3.1% in May. Similarly, core inflation, which excludes volatile elements such as energy and unprocessed food, fell to 2.3% from the previous month's 2.7%.

Annual growth in food product prices slowed to 2.0% compared to 2.5% in May. Conversely, energy product prices surged at a faster rate of 9.4%, up from the 7.8% increase observed in the prior month.

On a monthly comparison, consumer prices remained steady in June, following a 0.3% rise in May. The EU-harmonised inflation rate also dropped to 3.1% in June from 3.8% the month before.