INE’s flash estimate will need to be confirmed mid-December
Portugal’s rate of inflation in November has been estimated at 1.6%, a 0.5% fall on inflation in October.
This year-on-year rate of change in the Consumer Price Index is, for now, a flash estimate that will need to be confirmed mid-December.
Says statistics institute INE in a statement: “the main contribution to this slowdown comes from the base effect associated with the monthly price increase in food products last month (0.4 per cent) being lower than in November 2022 (1.7 per cent)”.
The underlying inflation indicator (total index excluding unprocessed food and energy products) is estimated to have risen by 2.9% in November (compared to 3.5% in the previous month).
The change in the index for energy products fell to -12.4% (-12% in the previous month) and the index for unprocessed food products slowed to 3.5% (4.0% in October).
Compared to the previous month, the change in the CPI was -0.3% (-0.2% in October and 0.3% in November 2022), with an estimated average change over the last 12 months of 5.0% (5.7% in the previous month).
Source: LUSA
