FX.co ★ Portugal Producer Price Inflation Climbs To 1.6%

Producer price inflation in Portugal increased for the second consecutive month in December, reaching its highest level in four months due to escalating energy costs, as reported by Statistics Portugal on Friday.

The producer price index saw a year-on-year increase of 1.6% in December, surpassing the 1.2% growth observed in November.

Energy prices experienced a significant acceleration, rising by 7.0% compared to a 4.7% increase in the previous month. Meanwhile, prices for intermediate goods also grew at a quicker pace of 1.4%. Excluding energy, the producer price inflation held steady at 0.5%.

On a monthly basis, producer prices rose by 0.2% in December, following a 0.3% rise in November.

Throughout 2024, industrial producer prices averaged an annual variation of 0.3% after remaining unchanged in 2023.