The European Commission this Monday improved its inflation forecast for Portugal to 5.1% this year, expecting a decline to 2.7% in 2024, reflecting initially energy prices and then food prices.
In its spring economic outlook, Brussels notes that after hitting 10.2% in the fourth quarter of 2022, inflation as measured by the Harmonized Consumer Price Index (HICP) fell to 8.4% in the first quarter of 2023. energy prices, while food prices remained high.
The community leader believes that inflation should record a new slowdown over the forecast horizon, “driven initially by the energy price index, and then by food and non-manufactured goods.”
Author: Portuguese
Source: CM Jornal
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