According to data published this Friday by the National Institute of Statistics (INE), the annual inflation rate slowed to 2.8% in June, down 0.3 percentage points from the previous month.
“The annual rate of change in the consumer price index (CPI) will decline to 2.8% in June 2024, 0.3 percentage points (pp) lower than observed in the previous month,” the quick assessment said. INE released this Friday.
Core inflation, which excludes unprocessed food and energy, was 2.3% in June, down from 2.7% in May.
In turn, the spread of the energy index increased to 9.4% from 7.8% in May, and the unprocessed food index slowed to 2.0% after 2.5% last month.
The INE estimates that the month-on-month change in IPC was zero, following an increase of 0.2% in May and 0.3% a year earlier.
Portugal’s Harmonized Index of Consumer Prices (HIPC) recorded a year-on-year decline of 3.1%, compared with 3.8% in the previous month.
This slowdown in HICP is due, according to INE, “to a large extent to the decline in hotel prices, the acceleration of which, recorded in May, was essentially associated with a major event that occurred in Lisbon.”
The National Statistics Office estimates the average change over the last twelve months to be 2.5% (a value 0.1 percentage point below the previous month).
Author: Lusa
Source: CM Jornal
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