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Portugal Consumer Prices Fall At Slower Pace In August

Portugal's consumer prices declined at a slower annual rate in August, while core inflation turned positive, latest data from Statistics Portugal showed on Wednesday.

The consumer price index fell -0.1 percent year-on-year in August after a 0.3 percent decline in July. The agency attributed the improvement partly to the positive contribution of changes in the prices of restaurants and hotels, and the more pronounced reduction in prices of fuels.

Core inflation that excludes prices of energy and unprocessed food was 0.2 percent in August versus -0.1 percent in July.

Month-on-month, the CPI decreased 0.1 percent in August after a 1.3 slump in the previous month.

Inflation based on the harmonized index of consumer prices, or HICP, which is meant for EU comparison, climbed to -0.1 percent from -0.7 percent in the previous month.

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