Portugal's consumer price inflation weakened to the lowest level in seventeen months in May, data released by Statistics Portugal showed Tuesday.
Annual inflation slowed to 2.7 percent in May from 3 percent in April. The latest figure was the lowest since December 2010, when the inflation rate was 2.3 percent.
Month-on-month, consumer prices dropped 0.4 percent in May, reversing the previous month's 0.3 percent increase.
At the same time, the harmonized index of consumer prices (HICP), measured under the EU methodology, rose 2.7 percent annually in May, slower than April's 2.9 percent growth. Compared to April, the HICP decreased 0.3 percent during the month, data showed.
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