Portuguese inflation drops to six-month low
2013-09-11 15:15:23
Portugal's EU harmonized inflation weakened in August to the lowest level in six months, data released by Statistics Portugal showed Wednesday.
The harmonized index of consumer prices (HICP) edged up 0.2 percent annually, after recording a 0.8 percent gain in July. Economists had forecast a 0.7 percent rise. The growth rate was the weakest since February 2013.
The HICP dropped 0.7 percent compared to July, when it decreased by 0.2 percent. The index was forecast to drop 0.2 percent in August too.
At the same time, inflation as per the consumer price index eased to 0.2 percent in August from 0.8 percent in July. The rate of growth was lower than the 0.7 percent economists had forecast.
Month-on-month, consumer prices dropped 0.7 percent in August, following the previous month's 0.2 percent fall. Expectations were for a 0.2 percent decline in August.
Core consumer prices, excluding energy and food, stayed unchanged year-on-year in August. This followed a 0.5 percent increase in July.