Portugal Inflation Confirmed At 2.3%

(RTTNews) - Portugal's consumer price inflation moderated slightly as initially estimated in October, the latest data from Statistics Portugal showed on Wednesday.

The consumer price index rose 2.3 percent annually in October, slower than the 2.4 percent increase in September. That was in line with the flash data published on October 31.

Prices for energy products were 1.2 percent less expensive, which largely helped the slowdown in inflation. The annual price growth in unprocessed products moderated to 6.1 percent from 7.0 percent. Costs for processed food products were 1.1 percent more expensive.

Excluding energy and unprocessed food products, core inflation rose somewhat to 2.1 percent from 2.0 percent.

On a monthly basis, consumer prices remained flat in October after rising 0.9 percent in the previous month, as estimated.

EU-harmonized inflation stood at 2.0 percent, up from 1.9 percent in September.