Portugal Verbraucherpreise

Annual inflation rate in Portugal edged up for a second month to 2.3% in October 2024, compared to 2.1% in September, and in line with the preliminary estimate. Energy prices fell at a much slower pace (-0.2% vs -3.5% in September), due to the combined effect of the monthly increase (1.3%) and the base effect from the decline observed in October 2023 (-2.1%). Unprocessed food products also rose more (2.1% vs 0.9%). In addition, prices increased at a faster pace for housing and utilities (7% vs 5.7%) and miscellaneous goods and services (2% vs 1.2%). In contrast, prices slowed for leisure, recreation, and culture (1.1% vs 1.9%) and declined at a faster pace for clothing and footwear (-1.9% vs -1.4%). Compared to the previous month, the CPI edged up 0.1%, well below a 1.3% surge in September. Meanwhile, annual core inflation rate eased to 2.6% from 2.8%.