Rent per square foot for a home rose 6.9% in March compared with the same month in 2023, accelerating from the previous month’s 6.5% increase, with all regions posting year-over-year increases. However, the National Institute of Statistics (INE) confirmed this Wednesday that the inflation rate was 2.3%.
“All regions showed positive changes in annual housing rentals, with Lisbon registering the most intensive growth (7.2%),” says a document published this Wednesday by INE.
In monthly terms, the average rental price per square meter of housing registered a change of 0.9% (1% in the previous month).
The regions with the highest positive monthly change were the North and Madeira (1%), while there were no regions with a negative change in their respective average house rents.
However, the annual inflation rate was 2.3% in March, up 0.2 percentage points from February, INE said, confirming a quick assessment. According to INE, some of this growth can be explained by deteriorating energy prices.
“The index variation for energy products increased to 4.8% (4.3% in the previous month), while the index for unprocessed foods decreased to -0.5% (0.8% in the previous month),” INE reports .
Inflation, however, is approaching the ideal level set by the European Central Bank at its meeting in Frankfurt this Thursday.
Author: Raquel Oliveira
Source: CM Jornal
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