Portugal Consumer Prices Decline For Seventh Straight Month

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Tuesday, the Statistics Portugal said the consumer price index or CPI fell 1.6% year-on-year in September compared to the 1.3% drop in the preceding month. This was the seventh consecutive month of decline in consumer prices.

In September, the core CPI, which excludes energy components and fresh unprocessed food products declined 0.2% annually, in contrast to the 0.2% rise in the previous month.

Food and non-alcoholic beverages prices recorded the largest decline, down 5.9% on an annual basis in September. At the same time, transport charges and clothing and footwear prices decreased by 3.7% and 3.4%, respectively.

On a monthly basis, consumer prices grew 0.2% in September, compared to the 0.3% decrease in August.

Meanwhile, the harmonized index of consumer prices or HICP dropped 1.8% year-on-year in September compared to the 1.2% fall in the preceding month. Month-on-month, the HICP decreased 0.1%, in contrast to the 0.5% rise in August.

Tuesday, the Statistics Portugal said the consumer price index or CPI fell 1.6% year-on-year in September compared to the 1.3% drop in the preceding month. This was the seventh consecutive month of decline in consumer prices. (Market News Provided by RTTNews)