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(RTTNews) - Inflation in Portugal accelerated to 2.5% in December from 2.3% in November, Statistics Portugal said Wednesday. Economists had forecast the rate to remain steady at 2.3%.
The largest upward pressure on the overall inflation level came from increase in transport costs, the statistical office said. Prices of transports increased 6.6% year-on-year in December compared to 5.1% rise in November.
Prices of food and beverages rose 2.9%, faster than the 2.5% increase in November. Prices of alcoholic beverages and tobacco increased 6.7% while prices of clothing and footwear were 1.9% lower than in the previous year.
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Portugal's Inflation Rises In December
(RTTNews) - Inflation in Portugal accelerated to 2.5% in December from 2.3% in November, Statistics Portugal said Wednesday. Economists had forecast the rate to remain steady at 2.3%.
The largest upward pressure on the overall inflation level came from increase in transport costs, the statistical office said. Prices of transports increased 6.6% year-on-year in December compared to 5.1% rise in November.
Prices of food and beverages rose 2.9%, faster than the 2.5% increase in November. Prices of alcoholic beverages and tobacco increased 6.7% while prices of clothing and footwear were 1.9% lower than in the previous year.
Costs of housing, water, electricity, gas and other fuels were up 5.4% on an annual basis. On a monthly basis, consumer prices rose 0.3% in December, faster than the 0.2% growth in the previous month.
The annual core inflation rate, which excludes price changes in energy and unprocessed food, was 0.9% in December.
The annual average increase in the consumer price index during last year was 1.4%. In 2009, prices had declined 0.8%. Inflation, as measured by the harmonized index of consumer prices, was 2.4% in December, down from 2.2% in the previous month. In 2010, HICP rose 1.4%.
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