Portugal: Harmonized inflation increases in September
Latest reading: Harmonized inflation jumped to 2.6% in September from August’s 1.8%, outpacing the ECB’s target of 2.0% and the Euro area average of 1.7%. Looking at the details of the release, a sharp increase in prices for hospitality outweighed softer price pressures for housing and utilities plus transportation.
The trend pointed down mildly, with annual average harmonized inflation coming in at 2.6% in September (August: 2.8%). Meanwhile, consumer price inflation rose to 2.1% in September from the previous month’s 1.9%.
Finally, harmonized consumer prices increased 1.56% from the previous month in September, contrasting the 0.12% drop logged in August. September’s result marked the highest reading since March.