The inflation rate increased to 3.1% in May, INE confirmed this Friday. The figure is 0.9 percentage points higher than in April.
In a published note, INE indicates that the acceleration is due to “mainly due to the base effect associated with the monthly price decline recorded in May 2023 (-0.7%) following the VAT exemption of a number of food products and, to a lesser extent, the acceleration of hotel prices.”
INE also notes a “cultural event of appropriate proportions” in Lisbon last month (Taylor Swift concerts at the Luz stadium), which caused an increase in housing demand in the capital and, as a result, contributed to monthly fluctuations in the consumer price index. .
In the update
Author: morning Post
Source: CM Jornal
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