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European Economic News

Portugal HICP Inflation Rises More Than Expected In May

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Portugal's EU measure of inflation accelerated more-than-expected in May, after slowing in the previous month.

The harmonized index of consumer prices (HICP) rose 0.9 percent year-on-year, after a 0.4 percent gain in April. Economists had forecast a figure of 0.6 percent. The latest inflation rate is the biggest since December last year, when it was 2.2 percent.

Month-on-month, the HICP rose 0.2 percent in May, after edging up 0.1 percent in April. Economists were looking for a decline of 0.1 percent.

Overall consumer price index (CPI) climbed 0.7 percent annually in May, following a 0.2 percent gain in the previous month. The inflation rate, which was the highest since December 2012, came in above economists' forecast of 0.5 percent.

The core inflation, which excludes energy and fresh food, was 0.5 percent in May, higher than April's 0.3 percent.

The CPI monthly rate was 0.2 percent, after a flat reading in April.

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