Portugal: Inflation ticks up in April as consumer prices rise 0.5% on year

Page created: Thursday, 12 May 2016 8:38 GMT

Harmonised Index of Consumer Prices  Inflation

Lisbon, May 11 (Lusa) – Portugal’s consumer price index in April was up 0.4% on the month and 0.5% on the year – an inflation rate one tenth of a percentage point higher than that for March, according to the latest report from the National Statistics Institute (INE).

The average rate of inflation for the last 12 months was 0.7% in April, according to INE.

In March the index had been up 1.9% from February and 0.4% up from March of 2015.

The underlying inflation index, which excludes prices for unprocessed food and energy, was in April 0.8% (down from 1.0% the previous month).

The aggregate of prices for unprocessed foods was up 1.2% on the year, while that for energy was down 3.0%.

Among other classes of items, the INE report highlighted less inflationary pressure in alcoholic beverages and tobacco, at 2.4%, and for healthcare, where prices were down 0.9%.

The index for food products and non-alcoholic beverages was up 0.1% while prices for transport fell 0.9%.

The Harmonised Index of Consumer Prices – calculated on a basis comparable with other European Union member states – was up 0.4% on the month and 0.5% on the year, the same year-on-year rate as in March and 0.7 of a percentage point higher than that for the euro area, as estimated by the EU statistics office, Eurostat.

Portugal’s average annual inflation for the last 12 months on the basis of this harmonised index was 0.6% in April, unchanged from March.