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Portuguese Inflation Weakens For Third Month

Portugal's EU harmonized inflation slowed for the third successive month in November, data released by Statistics Portugal showed Wednesday.

The harmonized index of consumer prices (HICP), measured under the EU methodology, increased 1.9 percent year-on-year in November, slower than the 2.1 percent rise economists had forecast. In October, the index increased 2.1 percent. The rate of growth slowed for the third consecutive month.

On a monthly basis, the HICP decreased 0.4 percent in November, faster than the 0.2 percent fall economists had forecast.

At the same time, inflation as per the consumer price index slowed to 1.89 percent in November from 2.13 percent in October. Economists were looking for an inflation rate of 2.2 percent.

Consumer prices decreased 0.3 percent compared to October, when they increased by 0.3 percent. The latest fall was faster than 0.1 percent economists expected, data showed.

by RTTNews Staff Writer

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