Portugal: Harmonized inflation drops to lowest level in nearly three years in August
Latest reading: Harmonized inflation eased to 1.8% in August from July’s 2.7%. August’s figure represented the lowest inflation rate since September 2021 and was below the Euro area average of 2.2%. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a slower pace in August. Moreover, transportation prices dropped after growing in the previous month.
Accordingly, annual average harmonized inflation fell to 2.8% in August (July: 3.1%). Meanwhile, consumer price inflation fell to 1.9% in August from July’s 2.5%.
Finally, harmonized consumer prices fell 0.12% over the previous month in August, a softer decrease than the 0.76% drop recorded in July.