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Portugal Inflation At 3-month Low

Portugal's inflation eased to its lowest level in three months during August, in line with initial estimates.

The consumer price index rose 1.2 percent year-on-year following 1.6 percent in July, latest figures from Statistics Portugal showed. That was the lowest figure since May, when inflation was 1.04 percent.

Core inflation, which excludes energy and fresh food prices, slowed to 0.6 percent from 1 percent in July.

Fresh food prices rose 1.1 percent after a 1.3 percent increase in the previous month. Energy inflation slowed to 7.4 percent from 7.7 percent.

On a month-on-month basis, the CPI dropped 0.3 percent in August after a 0.6 percent fall in July.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, eased to 1.3 percent in August from 2.2 percent in July. The figure was the lowest in three months.

All inflation figures for August were in line with the initial estimates released on August 31.

by RTTNews Staff Writer

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