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. .
The rate of change in the Consumer Price Index (IPC) reported today by INE, rounded to one decimal place, confirms the value of the quick estimate published on May 31.
Author: morning Post This Lusa
Source: CM Jornal
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