FX.co ★ Portugal Inflation Confirmed At 2.5%

Portugal experienced a slight uptick in consumer price inflation in November, as confirmed by the final data released by Statistics Portugal on Wednesday. According to the report, the inflation rate increased to 2.5% in November from 2.3% in October, consistent with the preliminary estimate disclosed on November 29.

The inflation escalation was largely attributed to a 2.1% rebound in energy product prices. Additionally, housing and utility expenses saw a more rapid increase, climbing by 7.07%. In contrast, the annual inflation rate for unprocessed food products saw a marginal decline, easing to 2.0% from 2.1%.

Core inflation, which excludes energy and unprocessed food items, remained stable at 2.6%. On a month-to-month basis, consumer prices decreased by 0.2%, following a 0.1% rise in the preceding month. These monthly figures align with the previous estimates.

Furthermore, the EU harmonized inflation rate rose to 2.7% in November, up from 2.6% in October, also matching the initial projections.